Cullen Frost Bankers Inc. Buys 731 Shares of Eli Lilly and Company (NYSE:LLY)

Cullen Frost Bankers Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,764 shares of the company's stock after purchasing an additional 731 shares during the quarter. Eli Lilly and Company makes up about 1.2% of Cullen Frost Bankers Inc.'s investment portfolio, making the stock its 24th largest position. Cullen Frost Bankers Inc.'s holdings in Eli Lilly and Company were worth $84,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Knightsbridge Asset Management LLC increased its stake in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after buying an additional 15 shares during the period. LS Investment Advisors LLC grew its stake in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after purchasing an additional 40 shares during the period. Prism Advisors Inc. acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $207,000. CSM Advisors LLC grew its stake in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the period. Finally, Bfsg LLC grew its stake in shares of Eli Lilly and Company by 1.4% during the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LLY shares. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Up 2.2%

Shares of Eli Lilly and Company stock traded up $17.16 during trading on Wednesday, reaching $788.91. The stock had a trading volume of 3,254,125 shares, compared to its average volume of 3,682,457. The company has a market capitalization of $747.68 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 1.16 and a beta of 0.40. The stock has a fifty day moving average price of $765.88 and a two-hundred day moving average price of $799.99. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

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

Eli Lilly and Company Dividend Announcement

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

Eli Lilly and 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.