Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 5,497 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 74.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,860 shares of the company's stock after acquiring an additional 5,497 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Eli Lilly and Company were worth $10,621,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. WestEnd Advisors LLC raised its stake in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company during the first quarter worth $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the fourth quarter worth $43,000. Finally, O Brien Wealth Partners LLC lifted its stake in Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group dropped their price objective on 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. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $15.24 during trading on Friday, reaching $755.31. The company's stock had a trading volume of 1,307,448 shares, compared to its average volume of 3,782,448. The firm has a 50 day moving average price of $774.56 and a 200 day moving average price of $799.73. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The firm has a market capitalization of $715.84 billion, a price-to-earnings ratio of 61.55, a price-to-earnings-growth ratio of 1.08 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 released 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). The business 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 quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company's payout ratio is currently 48.82%.

Eli Lilly and Company 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.