Eli Lilly and Company (NYSE:LLY) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,142 shares of the company's stock after acquiring an additional 319 shares during the quarter. Cornerstone Wealth Management LLC's holdings in Eli Lilly and Company were worth $3,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Knightsbridge Asset Management LLC raised its position in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. CSM Advisors LLC boosted its stake in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after buying an additional 245 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after buying an additional 1,562 shares during the last quarter. Finally, Bfsg LLC increased its position in Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after acquiring an additional 42 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on LLY shares. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $791.61 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $750.24 billion, a P/E ratio of 64.41, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. The firm has a 50-day moving average price of $777.90 and a two-hundred day moving average price of $801.70. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share 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 last year, the business earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

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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