Eli Lilly and Company (NYSE:LLY) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,112,001 shares of the company's stock after purchasing an additional 161,665 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Eli Lilly and Company worth $918,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WestEnd Advisors LLC grew its stake in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its holdings in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $43,000. O Brien Wealth Partners LLC boosted its holdings 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 worth $49,000 after acquiring an additional 12 shares in the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 2.4%

Shares of NYSE:LLY traded up $18.18 during trading on Tuesday, reaching $791.05. 804,145 shares of the stock were exchanged, compared to its average volume of 3,652,613. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. 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 cap of $749.70 billion, a price-to-earnings ratio of 64.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The firm's 50-day moving average price is $771.52 and its 200 day moving average price is $800.30.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. 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 firm posted $2.58 EPS. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on LLY shares. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Finally, Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research 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's stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and 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.