Eli Lilly and Company (NYSE:LLY) is Harmony Asset Management LLC's 6th Largest Position

Harmony Asset Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 33.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,060 shares of the company's stock after acquiring an additional 2,254 shares during the quarter. Eli Lilly and Company accounts for 3.1% of Harmony Asset Management LLC's portfolio, making the stock its 6th biggest holding. Harmony Asset Management LLC's holdings in Eli Lilly and Company were worth $7,482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after buying an additional 475,530 shares in the last quarter. Geode Capital Management LLC increased its position in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased its position in 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 buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LLY shares. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. UBS Group cut their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Finally, HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $793.34 on Friday. The stock has a market capitalization of $751.88 billion, a PE ratio of 64.55, a P/E/G ratio of 1.16 and a beta of 0.40. The business has a 50 day simple moving average of $766.39 and a two-hundred day simple moving average of $799.99. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

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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