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

Avantax Planning Partners Inc. raised its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,342 shares of the company's stock after purchasing an additional 538 shares during the period. Avantax Planning Partners Inc.'s holdings in Eli Lilly and Company were worth $4,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Silver Oak Securities Incorporated boosted its stake in Eli Lilly and Company by 12.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 2,784 shares of the company's stock worth $2,290,000 after purchasing an additional 309 shares during the period. Calamos Wealth Management LLC lifted its stake in shares of Eli Lilly and Company by 8.5% in the 1st quarter. Calamos Wealth Management LLC now owns 30,691 shares of the company's stock worth $25,348,000 after acquiring an additional 2,407 shares during the period. Cohen Investment Advisors LLC lifted its stake in shares of Eli Lilly and Company by 10.4% in the 1st quarter. Cohen Investment Advisors LLC now owns 10,710 shares of the company's stock worth $8,845,000 after acquiring an additional 1,006 shares during the period. Sitrin Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 0.3% in the first quarter. Sitrin Capital Management LLC now owns 6,644 shares of the company's stock valued at $5,488,000 after purchasing an additional 22 shares during the period. Finally, MBA Advisors LLC lifted its stake in shares of Eli Lilly and Company by 8.5% in the first quarter. MBA Advisors LLC now owns 524 shares of the company's stock valued at $433,000 after purchasing an additional 41 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $10.61 during trading on Monday, hitting $770.06. 1,663,701 shares of the stock were exchanged, compared to its average volume of 3,660,141. The stock's fifty day moving average is $773.61 and its 200 day moving average is $800.26. The stock has a market cap of $729.82 billion, a PE ratio of 62.62, a P/E/G ratio of 1.14 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month 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 EPS 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 the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 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.