Avantax Planning Partners Inc. Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Avantax Planning Partners Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 5,342 shares of the company's stock after acquiring an additional 538 shares during the quarter. Avantax Planning Partners Inc.'s holdings in Eli Lilly and Company were worth $4,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LLY. GAMMA Investing LLC lifted its position in shares of Eli Lilly and Company by 103,831.6% during the 1st 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 during the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $8,407,908,000. Wellington Management Group LLP lifted its position in shares of Eli Lilly and Company by 19.0% during the 4th 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 during the last quarter. Capital International Investors lifted its position in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after buying an additional 1,493,673 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $5.05 on Tuesday, reaching $777.92. 3,299,275 shares of the company's stock traded hands, compared to its average volume of 3,667,371. 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 stock has a market cap of $737.27 billion, a PE ratio of 63.30, a PEG ratio of 1.13 and a beta of 0.40. The stock's 50 day simple moving average is $769.37 and its two-hundred day simple moving average is $800.14. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business 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 revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 earnings per share. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group dropped their price objective 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. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.61.

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.