Cornerstone Planning Group LLC Purchases 325 Shares of Eli Lilly and Company (NYSE:LLY)

Cornerstone Planning Group LLC grew 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 (SEC). The institutional investor owned 432 shares of the company's stock after acquiring an additional 325 shares during the period. 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 and other institutional investors have also modified their holdings of the business. WestEnd Advisors LLC lifted its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $48,000. Finally, O Brien Wealth Partners LLC increased its position in Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $2.69 during trading hours on Friday, reaching $793.34. 2,851,585 shares of the company's stock were exchanged, compared to its average volume of 3,667,034. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $751.88 billion, a P/E ratio of 64.55, a P/E/G ratio of 1.15 and a beta of 0.40. The business has a fifty day moving average price of $767.03 and a 200-day moving average price of $800.01.

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

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LLY shares. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald started coverage on shares of 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. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.