Fayez Sarofim & Co Buys 48,290 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Fayez Sarofim & Co increased its stake in Eli Lilly and Company by 12.2%, holding 443,587 shares worth approximately $366.36 million as of the latest reporting period.
• Analysts have recently downgraded Eli Lilly's stock rating, with HSBC lowering its price target from $1,150 to $700, while a consensus rating remains at "Moderate Buy" with a price target of $1,012.56.
• Eli Lilly announced a quarterly dividend of $1.50 per share, which reflects an annualized payout of $6.00 and a yield of 0.8% with a payout ratio of 48.82%.

Fayez Sarofim & Co increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 443,587 shares of the company's stock after buying an additional 48,290 shares during the period. Fayez Sarofim & Co's holdings in Eli Lilly and Company were worth $366,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of LLY. WestEnd Advisors LLC raised its position in shares of 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 buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department raised its position in shares of 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 valued at $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 approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company during the fourth quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC increased its position in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $15.71 during midday trading on Friday, reaching $625.15. 14,089,857 shares of the company were exchanged, compared to its average volume of 4,833,475. The company's 50 day moving average price is $774.10 and its two-hundred day moving average price is $798.80. The company has a market cap of $592.48 billion, a P/E ratio of 40.86, a PEG ratio of 0.91 and a beta of 0.44. 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 $623.78 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 98.25%. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the company earned $3.92 earnings per share. The company's revenue was up 37.6% compared to the same quarter last year. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson purchased 200 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $990.89.

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.