Cypress Asset Management Inc. TX Invests $17.27 Million in Eli Lilly and Company (NYSE:LLY)

Cypress Asset Management Inc. TX purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 21,972 shares of the company's stock, valued at approximately $17,269,000. Eli Lilly and Company comprises about 4.3% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 4th largest holding.

Several other hedge funds also recently added to or reduced their stakes in LLY. Vanguard Group Inc. grew its stake in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after acquiring an additional 475,530 shares in the last quarter. Geode Capital Management LLC grew its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after acquiring an additional 291,875 shares in the last quarter. Wellington Management Group LLP grew its stake in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth about $8,407,908,000. Finally, Capital Research Global Investors grew its stake in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after acquiring an additional 1,493,673 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LLY. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Down 0.9%

NYSE:LLY traded down $6.63 during midday trading on Wednesday, reaching $718.59. 2,932,036 shares of the stock traded hands, compared to its average volume of 3,620,342. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The business has a 50-day moving average of $784.45 and a two-hundred day moving average of $801.86. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $681.03 billion, a PE ratio of 61.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. The company's revenue was up 45.2% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company's dividend payout ratio is currently 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.