Spire Wealth Management Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Spire Wealth Management increased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,795 shares of the company's stock after acquiring an additional 848 shares during the period. Eli Lilly and Company makes up about 0.9% of Spire Wealth Management's holdings, making the stock its 16th largest holding. Spire Wealth Management's holdings in Eli Lilly and Company were worth $27,912,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 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 valued at $628,000 after acquiring an additional 15 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares during the last quarter. CSM Advisors LLC increased its holdings in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the last quarter. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares during the period. Finally, Bfsg LLC lifted its stake in Eli Lilly and Company by 1.4% during the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LLY. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and issued a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, UBS Group reduced 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 report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $18.94 during trading on Friday, reaching $776.18. The company's stock had a trading volume of 4,109,419 shares, compared to its average volume of 3,682,356. The company has a 50-day moving average price of $781.50 and a two-hundred day moving average price of $800.11. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market cap of $735.61 billion, a PE ratio of 63.16, a P/E/G ratio of 1.16 and a beta of 0.40. 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 (NYSE:LLY - Get Free Report) last issued its quarterly earnings results 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue was up 45.2% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

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