Forbes J M & Co. LLP Grows Position in Eli Lilly and Company (NYSE:LLY)

Forbes J M & Co. LLP lifted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 325.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,472 shares of the company's stock after purchasing an additional 6,481 shares during the period. Forbes J M & Co. LLP's holdings in Eli Lilly and Company were worth $6,997,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LLY. Geode Capital Management LLC increased its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Finally, Capital Research Global Investors increased its position in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $776.47 on Wednesday. The company has a 50-day simple moving average of $767.03 and a 200 day simple moving average of $800.17. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The company has a market capitalization of $735.89 billion, a price-to-earnings ratio of 63.18, a PEG ratio of 1.10 and a beta of 0.40. 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 released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business 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 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

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.

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