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Cumberland Partners Ltd Boosts Position in Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company logo with Medical background

Key Points

  • Cumberland Partners Ltd increased its stake in Eli Lilly and Company by 51.4% during the first quarter, holding 35,229 shares valued at approximately $29.1 million.
  • Institutional ownership of Eli Lilly stock has surpassed 82%, with major increases from other firms such as PNC Financial Services and GAMMA Investing.
  • Despite reporting lower-than-expected earnings of $3.34 per share, Eli Lilly's revenue was up 45.2% year-over-year at $12.73 billion.
  • Interested in Eli Lilly and Company? Here are five stocks we like better.

Cumberland Partners Ltd lifted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 51.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,229 shares of the company's stock after acquiring an additional 11,956 shares during the period. Eli Lilly and Company accounts for approximately 2.2% of Cumberland Partners Ltd's portfolio, making the stock its 17th biggest position. Cumberland Partners Ltd's holdings in Eli Lilly and Company were worth $29,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Capital Research Global Investors increased its position in shares of Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Northern Trust Corp increased its position in shares of Eli Lilly and Company by 14.6% during the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after purchasing an additional 1,204,337 shares during the last quarter. Finally, Capital International Investors grew its position in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. UBS Group dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Guggenheim lifted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

View Our Latest Stock Report on Eli Lilly and Company

Eli Lilly and Company Price Performance

LLY stock opened at $761.47 on Friday. The business has a 50 day moving average price of $775.51 and a 200 day moving average price of $799.86. The stock has a market cap of $721.67 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.05 and a beta of 0.44. 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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). The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 EPS. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid 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 0.8%. Eli Lilly and Company's payout ratio is presently 48.82%.

Eli Lilly and Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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