Commerce Bank Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Commerce Bank increased its stake in Eli Lilly and Company by 7.4%, owning a total of 176,376 shares valued at approximately $145.67 million.
• Eli Lilly's most recent quarterly earnings report revealed an EPS of $3.34, falling short of analysts' expectations, while revenue increased 45.2% year-over-year.
• The company declared a $1.50 quarterly dividend, translating to an annualized dividend yield of 0.8%, with a payout ratio of 48.82%.

Commerce Bank grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,376 shares of the company's stock after purchasing an additional 12,162 shares during the period. Eli Lilly and Company makes up about 0.9% of Commerce Bank's portfolio, making the stock its 18th biggest position. Commerce Bank's holdings in Eli Lilly and Company were worth $145,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Knightsbridge Asset Management LLC increased its position in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares during the period. LS Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after buying an additional 40 shares in the last quarter. Prism Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter valued at $207,000. CSM Advisors LLC raised its holdings in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after acquiring an additional 245 shares in the last quarter. Finally, Bfsg LLC lifted its stake in Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after acquiring an additional 42 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $21.40 during mid-day trading on Friday, reaching $761.47. The stock had a trading volume of 4,857,388 shares, compared to its average volume of 3,285,034. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The firm has a market cap of $721.67 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.05 and a beta of 0.44. The business's fifty day moving average is $775.51 and its 200-day moving average is $799.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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 net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The business's revenue was up 45.2% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group cut their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One 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 company. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average price target of $1,012.56.

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.