NewEdge Advisors LLC Boosts Stake in Eli Lilly and Company $LLY

Key Points

• NewEdge Advisors LLC increased its holdings in Eli Lilly by 1.0% during Q1, owning 121,924 shares valued at approximately $100.7 million.
• Eli Lilly recently reported earnings of $6.31 EPS for the quarter, exceeding analysts' expectations and driving a 37.6% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.50 per share, with the upcoming payment scheduled for September 10th, 2023.

NewEdge Advisors LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,924 shares of the company's stock after purchasing an additional 1,177 shares during the period. Eli Lilly and Company comprises approximately 0.6% of NewEdge Advisors LLC's investment portfolio, making the stock its 25th biggest holding. NewEdge Advisors LLC's holdings in Eli Lilly and Company were worth $100,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. GAMMA Investing LLC raised its position in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Nuveen LLC acquired a new position in shares of Eli Lilly and Company in the first quarter worth about $4,613,912,000. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eli Lilly and Company by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,084,880 shares of the company's stock worth $5,469,527,000 after acquiring an additional 969,376 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. HSBC upgraded shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and upped their price objective for the stock from $675.00 to $700.00 in a research report on Wednesday, August 27th. DZ Bank raised shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Cantor Fitzgerald decreased their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, UBS Group reduced their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $950.17.

Eli Lilly and Company Price Performance

LLY stock traded down $16.56 during mid-day trading on Friday, reaching $726.35. The company's stock had a trading volume of 3,953,474 shares, compared to its average volume of 5,282,453. The stock has a market cap of $687.46 billion, a PE ratio of 47.47, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $942.35. The company's 50 day moving average is $743.84 and its two-hundred day moving average is $781.22.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 39.22%.

Insider Activity

In other news, EVP Daniel Skovronsky purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the acquisition, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Erik Fyrwald purchased 1,565 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the acquisition, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 4,514 shares of company stock valued at $2,894,841 in the last quarter. Insiders own 0.13% of the company's stock.

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.