Donoghue Forlines LLC Purchases Shares of 2,737 Eli Lilly and Company (NYSE:LLY)

Key Points

• Donoghue Forlines LLC has made a new investment in Eli Lilly and Company, acquiring 2,737 shares valued at approximately $2.26 million.
• Analysts have given Eli Lilly a consensus rating of "Moderate Buy", with an average price target of $990.89, indicating strong growth potential.
• The company reported a significant increase in its quarterly earnings, with $6.31 EPS surpassing estimates and a revenue growth of 37.6% year-over-year.

Donoghue Forlines LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,737 shares of the company's stock, valued at approximately $2,261,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $11,033,000. Townsquare Capital LLC raised its position in shares of Eli Lilly and Company by 32.2% during the 1st quarter. Townsquare Capital LLC now owns 74,353 shares of the company's stock valued at $61,410,000 after purchasing an additional 18,118 shares during the period. Founders Financial Alliance LLC raised its position in shares of Eli Lilly and Company by 21.1% during the 1st quarter. Founders Financial Alliance LLC now owns 1,910 shares of the company's stock valued at $1,578,000 after purchasing an additional 333 shares during the period. Keystone Investors PTE Ltd. raised its position in shares of Eli Lilly and Company by 89.9% during the 1st quarter. Keystone Investors PTE Ltd. now owns 26,456 shares of the company's stock valued at $21,850,000 after purchasing an additional 12,523 shares during the period. Finally, Forsta AP Fonden increased its holdings in Eli Lilly and Company by 2.8% in the 1st quarter. Forsta AP Fonden now owns 216,251 shares of the company's stock valued at $178,604,000 after acquiring an additional 5,900 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 2.5%

Shares of LLY traded down $15.71 during mid-day trading on Friday, hitting $625.15. The company's stock had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The company's 50-day moving average is $774.10 and its 200-day moving average is $799.11. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The firm has a market capitalization of $592.48 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.89 and a beta of 0.44. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 98.25%. Eli Lilly and Company's revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.92 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed 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. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson purchased 200 shares of the business's stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director owned 9,402 shares of the company's stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LLY shares. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Guggenheim lifted their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Leerink Partners reiterated a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $990.89.

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.