Wallace Advisory Group LLC Acquires 738 Shares of Eli Lilly and Company (NYSE:LLY)

Wallace Advisory Group LLC raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 203.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,101 shares of the company's stock after acquiring an additional 738 shares during the quarter. Wallace Advisory Group LLC's holdings in Eli Lilly and Company were worth $850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the period. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $8,407,908,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $8.96 during midday trading on Monday, hitting $746.63. 2,941,928 shares of the company were exchanged, compared to its average volume of 3,636,860. The firm has a market capitalization of $707.60 billion, a P/E ratio of 63.76, a PEG ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm's 50 day moving average price is $776.85 and its two-hundred day moving average price is $799.98. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LLY shares. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group lowered their price target 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 research note on Friday, May 2nd. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

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.