Cornerstone Planning Group LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Cornerstone Planning Group LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 303.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 432 shares of the company's stock after purchasing an additional 325 shares during the quarter. Cornerstone Planning Group LLC's holdings in Eli Lilly and Company were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC increased its holdings in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after acquiring an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares during the period. Applied Finance Capital Management LLC boosted its stake in Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Finally, Tobias Financial Advisors Inc. boosted its stake in Eli Lilly and Company by 4.1% in the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after purchasing an additional 12 shares during the period. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim reiterated a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Stock Up 1.2%

NYSE:LLY traded up $9.34 during mid-day trading on Wednesday, hitting $787.00. 2,701,662 shares of the company's stock were exchanged, compared to its average volume of 3,663,521. The company has a market cap of $745.87 billion, a PE ratio of 64.04, a P/E/G ratio of 1.13 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The business has a fifty day moving average price of $769.37 and a 200 day moving average price of $800.14.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business's quarterly revenue was up 45.2% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

About Eli Lilly and Company

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.