Eli Lilly and Company (NYSE:LLY) Stake Boosted by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC increased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,038 shares of the company's stock after purchasing an additional 703 shares during the quarter. Eli Lilly and Company makes up 1.0% of Transcend Capital Advisors LLC's investment portfolio, making the stock its 15th largest holding. Transcend Capital Advisors LLC's holdings in Eli Lilly and Company were worth $14,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the 4th quarter worth about $43,000. Prudent Man Investment Management Inc. purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $48,000. Highline Wealth Partners LLC grew its stake in Eli Lilly and Company by 53.3% during the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock valued at $57,000 after acquiring an additional 24 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $63,000. Finally, Bellwether Advisors LLC purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $776.18 on Friday. The business's fifty day moving average price is $780.19 and its two-hundred day moving average price is $799.94. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The stock has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.16 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 (NYSE:LLY - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $12.77 billion. During the same quarter last year, the company earned $2.58 earnings per share. The business's revenue was up 45.2% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LLY shares. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reiterated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

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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