Eli Lilly and Company (NYSE:LLY) Shares Acquired by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Eli Lilly and Company by 7.7%, acquiring an additional 1,479 shares, bringing its total holdings to 20,688 shares valued at approximately $17,075,000.
• Eli Lilly reported a quarterly earnings miss with $3.34 EPS, falling short of analysts' expectations of $4.64, despite a year-over-year revenue increase of 45.2% to $12.73 billion.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized yield of 0.74%, with a payout ratio currently at 48.82%.

Harvest Fund Management Co. Ltd boosted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 7.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,688 shares of the company's stock after acquiring an additional 1,479 shares during the period. Eli Lilly and Company comprises 0.9% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 18th biggest holding. Harvest Fund Management Co. Ltd's holdings in Eli Lilly and Company were worth $17,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC increased its position in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC increased its position in Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares during the period. Orion Capital Management LLC increased its position in Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after acquiring an additional 40 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its position in Eli Lilly and Company by 4.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after acquiring an additional 2,568 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

LLY stock opened at $807.78 on Tuesday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market capitalization of $765.57 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The stock's fifty day moving average is $773.01 and its two-hundred day moving average is $800.67.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business's quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. UBS Group lowered their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim upped their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price target (up previously 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, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

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.

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