Granite Harbor Advisors Inc. Has $1.72 Million Holdings in Eli Lilly and Company $LLY

Key Points

• Granite Harbor Advisors Inc. increased its holdings in Eli Lilly and Company by 67.9% during the 1st quarter, now owning 2,084 shares valued at $1.72 million.
• Several investment analysts have a positive outlook on Eli Lilly, with a consensus rating of "Moderate Buy" and a price target averaging $950.17.
• Eli Lilly reported a 37.6% increase in revenue year-over-year, reaching $15.56 billion in its latest earnings report.

Granite Harbor Advisors Inc. lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,084 shares of the company's stock after buying an additional 843 shares during the quarter. Eli Lilly and Company comprises approximately 0.9% of Granite Harbor Advisors Inc.'s investment portfolio, making the stock its 26th biggest holding. Granite Harbor Advisors Inc.'s holdings in Eli Lilly and Company were worth $1,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brooklyn Investment Group grew its position in shares of Eli Lilly and Company by 32.4% during the 1st quarter. Brooklyn Investment Group now owns 6,881 shares of the company's stock worth $5,682,000 after buying an additional 1,685 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in Eli Lilly and Company by 2.9% during the first quarter. Valley Brook Capital Group Inc. now owns 1,582 shares of the company's stock worth $1,307,000 after acquiring an additional 45 shares in the last quarter. Mill Creek Capital Advisors LLC grew its stake in Eli Lilly and Company by 49.9% in the first quarter. Mill Creek Capital Advisors LLC now owns 613 shares of the company's stock valued at $506,000 after acquiring an additional 204 shares during the period. Algert Global LLC increased its holdings in shares of Eli Lilly and Company by 6.9% in the first quarter. Algert Global LLC now owns 13,106 shares of the company's stock worth $10,824,000 after acquiring an additional 848 shares in the last quarter. Finally, Seven Mile Advisory increased its holdings in shares of Eli Lilly and Company by 15.0% in the first quarter. Seven Mile Advisory now owns 1,552 shares of the company's stock worth $1,282,000 after acquiring an additional 202 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Leerink Partners reiterated a "market perform" rating and set a $715.00 price objective on shares of Eli Lilly and Company in a report on Thursday, August 7th. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Cantor Fitzgerald cut their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $950.17.

Eli Lilly and Company Trading Up 2.5%

Shares of NYSE:LLY opened at $701.51 on Monday. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The business has a 50 day moving average of $764.55 and a 200-day moving average of $794.43. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market cap of $663.95 billion, a PE ratio of 45.85, a P/E/G ratio of 0.98 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the company posted $3.92 EPS. The firm's quarterly revenue was up 37.6% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current 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. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company's payout ratio is 39.22%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CEO David A. Ricks bought 1,632 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Erik Fyrwald bought 1,565 shares of the stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director directly owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

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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