Edgestream Partners L.P. Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Edgestream Partners L.P. raised its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 95.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,785 shares of the company's stock after purchasing an additional 3,805 shares during the quarter. Edgestream Partners L.P.'s holdings in Eli Lilly and Company were worth $6,430,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. WestEnd Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department raised its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company during the first quarter valued at $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $26.60 during trading on Tuesday, reaching $772.74. The company had a trading volume of 4,171,328 shares, compared to its average volume of 3,672,620. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm's 50-day simple moving average is $765.95 and its 200 day simple moving average is $800.18. The firm has a market capitalization of $732.35 billion, a PE ratio of 62.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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 analyst estimates of $12.77 billion. During the same period last year, the firm earned $2.58 EPS. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, equities research analysts anticipate 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 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 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LLY. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. UBS Group lowered their price target 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 report on Friday, May 2nd. Finally, Guggenheim raised 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. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company 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.