Federated Hermes Inc. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• Federated Hermes Inc. increased its stake in Eli Lilly and Company by 3.5%, owning 298,453 shares valued at approximately $246 million.
• During the 1st quarter, several investors, including WestEnd Advisors LLC and Citizens National Bank Trust Department, significantly boosted their stakes in Eli Lilly, reflecting growing investor confidence.
• Eli Lilly reported $3.34 EPS for the latest quarter, falling short of analyst estimates, while quarterly revenue reached $12.73 billion, which also missed expectations.

Federated Hermes Inc. boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 298,453 shares of the company's stock after purchasing an additional 10,066 shares during the quarter. Federated Hermes Inc.'s holdings in Eli Lilly and Company were worth $246,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LLY. Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares during the period. Tobias Financial Advisors Inc. boosted its stake in Eli Lilly and Company by 4.1% in the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after purchasing an additional 12 shares during the period. Redwood Investments LLC boosted its position in Eli Lilly and Company by 0.5% during the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after acquiring an additional 12 shares during the period. Finally, Hobbs Wealth Management LLC grew its position in 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 in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LLY. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim boosted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Trading Down 0.4%

LLY stock traded down $3.19 during trading on Wednesday, reaching $759.76. The company had a trading volume of 4,331,834 shares, compared to its average volume of 3,787,427. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a market cap of $720.05 billion, a P/E ratio of 61.82, a PEG ratio of 1.15 and a beta of 0.40. The business has a 50 day moving average of $773.36 and a 200 day moving average of $800.41. 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 (NYSE:LLY - Get Free Report) last issued 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). 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 quarter in the prior year, the business earned $2.58 EPS. The company's revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.79%. Eli Lilly and Company's payout ratio is 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.