Eli Lilly and Company (NYSE:LLY) is Azimuth Capital Investment Management LLC's 4th Largest Position

Key Points

• Azimuth Capital Investment Management LLC increased its stake in Eli Lilly and Company by 15.0% in the first quarter, making the stock its 4th largest position worth over $61 million.
• Eli Lilly reported a quarterly EPS of $6.31, exceeding the consensus estimate by $0.72, with revenue of $15.56 billion, a 37.6% increase year-over-year.
• The company declared a quarterly dividend of $1.50 per share, with an annualized yield of 0.9%, set to be paid on September 10th.

Azimuth Capital Investment Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,600 shares of the company's stock after buying an additional 9,757 shares during the period. Eli Lilly and Company makes up 2.5% of Azimuth Capital Investment Management LLC's portfolio, making the stock its 4th biggest position. Azimuth Capital Investment Management LLC's holdings in Eli Lilly and Company were worth $61,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of LLY. Tobias Financial Advisors Inc. raised its stake in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after buying an additional 12 shares in the last quarter. Redwood Investments LLC grew its holdings in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after purchasing an additional 12 shares during the last quarter. Hobbs Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after purchasing an additional 12 shares during the last quarter. Hixon Zuercher LLC grew its holdings in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after purchasing an additional 12 shares during the last quarter. Finally, O Brien Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 3.3%

Shares of NYSE:LLY opened at $660.41 on Thursday. The company's 50-day moving average price is $767.52 and its two-hundred day moving average price is $796.25. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. Eli Lilly and Company has a one year low of $623.78 and a one year high of $972.53. The stock has a market capitalization of $625.05 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business's revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.92 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LLY shares. Leerink Partners reaffirmed a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. UBS Group decreased their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a report on Friday, August 8th. Cantor Fitzgerald set a $825.00 price objective on Eli Lilly and Company and gave the stock an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $964.88.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the firm's stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at approximately $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. Also, Director Gabrielle Sulzberger bought 117 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the transaction, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

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.

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