Eli Lilly and Company (NYSE:LLY) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,317 shares of the company's stock after buying an additional 637 shares during the quarter. Eli Lilly and Company comprises 1.1% of Independence Bank of Kentucky's holdings, making the stock its 16th largest position. Independence Bank of Kentucky's holdings in Eli Lilly and Company were worth $6,869,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. First Affirmative Financial Network raised its position in shares of Eli Lilly and Company by 3.5% during the 1st quarter. First Affirmative Financial Network now owns 1,639 shares of the company's stock valued at $1,354,000 after buying an additional 55 shares during the period. Impact Capital Partners LLC increased its stake in Eli Lilly and Company by 15.3% during the first quarter. Impact Capital Partners LLC now owns 1,685 shares of the company's stock worth $1,392,000 after acquiring an additional 224 shares during the last quarter. StoneCrest Wealth Management Inc. raised its position in Eli Lilly and Company by 16.0% in the first quarter. StoneCrest Wealth Management Inc. now owns 6,109 shares of the company's stock valued at $5,045,000 after purchasing an additional 841 shares during the period. Constitution Capital LLC raised its position in Eli Lilly and Company by 2.3% in the first quarter. Constitution Capital LLC now owns 1,330 shares of the company's stock valued at $1,098,000 after purchasing an additional 30 shares during the period. Finally, Verum Partners LLC lifted its stake in shares of Eli Lilly and Company by 4.1% in the 1st quarter. Verum Partners LLC now owns 711 shares of the company's stock valued at $587,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LLY shares. UBS Group cut 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. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's 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 completion of the transaction, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

LLY stock opened at $770.00 on Friday. The business's 50-day moving average is $770.87 and its two-hundred day moving average is $799.95. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $729.76 billion, a P/E ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The firm's quarterly revenue was up 45.2% on a year-over-year basis. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's payout ratio is currently 48.82%.

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.

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