Delap Wealth Advisory LLC Has $1.10 Million Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Delap Wealth Advisory LLC increased its position in Eli Lilly and Company by 167.1% during the 1st quarter, holding 1,330 shares valued at approximately $1.1 million.
• Eli Lilly reported $3.34 earnings per share for its latest quarter, falling short of estimates, with a revenue of $12.73 billion, although it showed a 45.2% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00 and a yield of 0.79%.

Delap Wealth Advisory LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 167.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the company's stock after buying an additional 832 shares during the quarter. Delap Wealth Advisory LLC's holdings in Eli Lilly and Company were worth $1,098,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Garner Asset Management Corp grew its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Brighton Jones LLC grew its stake in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after purchasing an additional 40 shares in the last quarter. Orion Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after purchasing an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $3.19 during mid-day trading on Wednesday, hitting $759.76. 4,331,834 shares of the company's stock traded hands, compared to its average volume of 2,949,040. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a market cap of $720.05 billion, a PE ratio of 61.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.40. The firm's 50 day simple moving average is $774.07 and its 200 day simple moving average is $800.13. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. Sell-side analysts expect 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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 price objective 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 research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Guggenheim increased their target price on shares of 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, UBS Group decreased 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 report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.