Commonwealth Equity Services LLC Acquires 17,344 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Commonwealth Equity Services LLC increased its stake in Eli Lilly by 4.8%, owning 377,220 shares valued at $311.55 million as of the latest SEC filing.
• Eli Lilly reported $3.34 earnings per share for the last quarter, falling short of the consensus estimate of $4.64, despite revenues rising 45.2% year-over-year.
• The company will pay a quarterly dividend of $1.50 per share, which equates to an annualized dividend of $6.00, with a yield of 0.8%.

Commonwealth Equity Services LLC grew its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,220 shares of the company's stock after purchasing an additional 17,344 shares during the period. Commonwealth Equity Services LLC's holdings in Eli Lilly and Company were worth $311,550,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LLY. PNC Financial Services Group Inc. boosted its holdings in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 14,852,076 shares in the last quarter. Capital International Investors lifted its holdings in 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 purchasing an additional 1,645,222 shares in the last quarter. Capital Research Global Investors boosted its stake in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Finally, Northern Trust Corp grew its holdings in Eli Lilly and Company by 14.6% during the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after buying an additional 1,204,337 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $2.53 during mid-day trading on Tuesday, reaching $766.47. 3,613,178 shares of the stock traded hands, compared to its average volume of 3,804,400. The stock has a market capitalization of $726.41 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The business's 50-day moving average is $776.59 and its 200-day moving average is $800.81. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Guggenheim upped their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group reduced their price target on 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

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.