Eli Lilly and Company (NYSE:LLY) Shares Purchased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lifted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,919 shares of the company's stock after purchasing an additional 1,134 shares during the period. Eli Lilly and Company comprises about 1.9% of Cutter & CO Brokerage Inc.'s holdings, making the stock its 10th largest position. Cutter & CO Brokerage Inc.'s holdings in Eli Lilly and Company were worth $8,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $8,407,908,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. Finally, Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $27.58 during trading on Tuesday, hitting $771.76. 1,567,264 shares of the stock were exchanged, compared to its average volume of 3,787,713. The company has a fifty day moving average price of $765.95 and a two-hundred day moving average price of $800.18. The company has a market cap of $731.43 billion, a PE ratio of 62.85, a P/E/G ratio of 1.16 and a beta of 0.40. 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 has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly 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 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 was up 45.2% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid 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 of this dividend 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.