Beese Fulmer Investment Management Inc. Acquires 1,544 Shares of Eli Lilly and Company (NYSE:LLY)

Beese Fulmer Investment Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 255.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149 shares of the company's stock after purchasing an additional 1,544 shares during the period. Beese Fulmer Investment Management Inc.'s holdings in Eli Lilly and Company were worth $1,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Fulcrum Capital LLC bought a new position in shares of Eli Lilly and Company in the first quarter valued at $217,000. Atlas Brown Inc. boosted its holdings in shares of Eli Lilly and Company by 0.8% in the first quarter. Atlas Brown Inc. now owns 1,918 shares of the company's stock worth $1,584,000 after buying an additional 15 shares during the period. LVM Capital Management Ltd. MI boosted its holdings in shares of Eli Lilly and Company by 2.1% in the first quarter. LVM Capital Management Ltd. MI now owns 49,570 shares of the company's stock worth $40,940,000 after buying an additional 1,008 shares during the period. Lantz Financial LLC boosted its holdings in shares of Eli Lilly and Company by 10.2% in the first quarter. Lantz Financial LLC now owns 1,886 shares of the company's stock worth $1,558,000 after buying an additional 175 shares during the period. Finally, BTC Capital Management Inc. boosted its holdings in shares of Eli Lilly and Company by 13.7% in the first quarter. BTC Capital Management Inc. now owns 10,502 shares of the company's stock worth $8,675,000 after buying an additional 1,265 shares during the period. Institutional investors own 82.53% of the company's stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday. 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. Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, UBS Group reduced 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 note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Up 2.2%

LLY stock traded up $15.76 during mid-day trading on Friday, hitting $738.33. The stock had a trading volume of 6,102,436 shares, compared to its average volume of 3,639,718. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a fifty day moving average of $776.85 and a 200 day moving average of $799.88. The stock has a market capitalization of $699.74 billion, a price-to-earnings ratio of 63.05, a PEG ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is currently 48.82%.

Eli Lilly and 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.