Eli Lilly and Company (NYSE:LLY) Shares Purchased by Convergence Financial LLC

Convergence Financial LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,975 shares of the company's stock after acquiring an additional 323 shares during the quarter. Convergence Financial LLC's holdings in Eli Lilly and Company were worth $3,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after acquiring an additional 12 shares in the last quarter. Morling Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LLY shares. 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. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reiterated a "buy" rating and issued a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. Finally, Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Trading Down 2.4%

Shares of NYSE:LLY opened at $776.18 on Monday. 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 capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.41. 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 price is $780.19 and its 200-day moving average price is $800.08.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. The company's quarterly revenue was up 45.2% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.