Longbow Finance SA Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• Longbow Finance SA increased its stake in Eli Lilly and Company by 68.0%, now holding 30,674 shares worth approximately $25.33 million.
• Eli Lilly reported a Q1 EPS of $3.34, missing estimates and showing a 45.2% increase in revenue year-over-year, totaling $12.73 billion.
• The company announced a quarterly dividend of $1.50 per share, translating to an annual yield of 0.75% with a dividend payout ratio of 48.82%.

Longbow Finance SA grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 68.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,674 shares of the company's stock after purchasing an additional 12,421 shares during the period. Eli Lilly and Company makes up approximately 3.0% of Longbow Finance SA's investment portfolio, making the stock its 9th biggest position. Longbow Finance SA's holdings in Eli Lilly and Company were worth $25,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Prospect Financial Group LLC raised its holdings in shares of Eli Lilly and Company by 5.5% in the first quarter. Prospect Financial Group LLC now owns 476 shares of the company's stock valued at $393,000 after acquiring an additional 25 shares in the last quarter. Caliber Wealth Management LLC KS bought a new stake in shares of Eli Lilly and Company in the first quarter valued at about $584,000. Prudent Investors Network Inc. bought a new position in Eli Lilly and Company in the first quarter worth about $731,000. Assetmark Inc. boosted its holdings in shares of Eli Lilly and Company by 5.6% in the 1st quarter. Assetmark Inc. now owns 44,978 shares of the company's stock valued at $37,148,000 after buying an additional 2,383 shares in the last quarter. Finally, USAdvisors Wealth Management LLC grew its position in shares of Eli Lilly and Company by 6.3% in the 1st quarter. USAdvisors Wealth Management LLC now owns 286 shares of the company's stock worth $236,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday. Finally, UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One investment 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 currently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded up $2.34 during trading on Monday, reaching $815.03. The company had a trading volume of 1,099,933 shares, compared to its average volume of 3,749,341. The firm's fifty day moving average is $771.95 and its 200 day moving average is $800.61. The firm has a market capitalization of $772.44 billion, a PE ratio of 66.29, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. 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 (NYSE:LLY - Get Free Report) last announced 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). 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 analyst estimates of $12.77 billion. During the same quarter last year, the company earned $2.58 EPS. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. 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 dividend payout ratio is currently 48.82%.

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.