Covenant Asset Management LLC Purchases 2,083 Shares of Eli Lilly and Company (NYSE:LLY)

Covenant Asset Management LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,631 shares of the company's stock after acquiring an additional 2,083 shares during the period. Eli Lilly and Company accounts for approximately 1.6% of Covenant Asset Management LLC's investment portfolio, making the stock its 10th biggest position. Covenant Asset Management LLC's holdings in Eli Lilly and Company were worth $7,128,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its position in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Finally, UBS Group lowered their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $10.28 during midday trading on Friday, hitting $771.78. The company had a trading volume of 3,351,657 shares, compared to its average volume of 3,664,442. The business's 50 day simple moving average is $767.03 and its two-hundred day simple moving average is $800.02. The stock has a market cap of $731.45 billion, a PE ratio of 62.80, a P/E/G ratio of 1.12 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 1-year low of $677.09 and a 1-year high of $972.53.

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

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.