Contravisory Investment Management Inc. Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Contravisory Investment Management Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 394.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,038 shares of the company's stock after buying an additional 2,423 shares during the period. Contravisory Investment Management Inc.'s holdings in Eli Lilly and Company were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elevate Capital Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $262,000. Capital & Planning LLC raised its stake in Eli Lilly and Company by 15.6% during the fourth quarter. Capital & Planning LLC now owns 481 shares of the company's stock valued at $371,000 after purchasing an additional 65 shares in the last quarter. Garner Asset Management Corp lifted its position in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after buying an additional 1,730 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $49,534,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 0.1%

NYSE:LLY traded down $0.71 during midday trading on Thursday, reaching $765.13. 3,632,853 shares of the stock traded hands, compared to its average volume of 3,644,545. The stock has a market capitalization of $725.14 billion, a PE ratio of 65.34, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business has a 50-day moving average of $772.75 and a two-hundred day moving average of $799.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. UBS Group cut their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.