Earned Wealth Advisors LLC Acquires 2,100 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Earned Wealth Advisors LLC significantly increased its stake in Eli Lilly and Company by 356.5%, acquiring an additional 2,100 shares, bringing its total ownership to 2,689 shares valued at approximately $2.22 million.
• Eli Lilly reported earnings of $3.34 per share, missing analysts' expectations by $1.30, despite a 45.2% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.50 per share set to be paid on September 10th, reflecting an annualized dividend yield of 0.8%.

Earned Wealth Advisors LLC lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 356.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,689 shares of the company's stock after buying an additional 2,100 shares during the quarter. Earned Wealth Advisors LLC's holdings in Eli Lilly and Company were worth $2,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Garner Asset Management Corp increased its position in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares during the period. Brighton Jones LLC increased its position in Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after purchasing an additional 1,730 shares during the period. Revolve Wealth Partners LLC increased its position in Eli Lilly and Company by 2.8% during the 4th 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 during the period. Orion Capital Management LLC increased its position in Eli Lilly and Company by 2.5% during the 4th 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 during the period. Finally, Bank Pictet & Cie Europe AG increased its position in Eli Lilly and Company by 4.1% during the 4th 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 during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $761.47 on Friday. The firm has a market cap of $721.68 billion, a PE ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. The firm has a fifty day moving average of $775.51 and a 200 day moving average of $800.23. 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 has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. As a group, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LLY. UBS Group cut their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.

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