Essex Savings Bank Buys 1,007 Shares of Eli Lilly and Company (NYSE:LLY)

Essex Savings Bank lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,061 shares of the company's stock after purchasing an additional 1,007 shares during the quarter. Eli Lilly and Company comprises about 2.4% of Essex Savings Bank's holdings, making the stock its 8th largest holding. Essex Savings Bank's holdings in Eli Lilly and Company were worth $9,961,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $43,000. FPC Investment Advisory Inc. grew its position in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares during the period. Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $48,000. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after acquiring an additional 24 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group lowered 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 report on Friday, May 2nd. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Down 0.9%

Shares of NYSE LLY traded down $6.96 during mid-day trading on Thursday, hitting $784.28. The company had a trading volume of 2,441,727 shares, compared to its average volume of 3,656,357. The company has a market capitalization of $743.29 billion, a PE ratio of 63.81, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business's 50-day simple moving average is $779.84 and its 200 day simple moving average is $801.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was 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.