GS Investments Inc. Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• GS Investments Inc. has acquired a new position in Eli Lilly and Company (NYSE:LLY), purchasing 2,877 shares valued at approximately $2,376,000.
• Eli Lilly's stock has received a consensus rating of "Moderate Buy" from analysts, with a significant price target range set between $975.00 and $1,135.00.
• The company recently declared a quarterly dividend of $1.50 per share, resulting in an annualized yield of 0.79%, with the payment scheduled for September 10th.

GS Investments Inc. bought a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,877 shares of the company's stock, valued at approximately $2,376,000.

Several other hedge funds have also recently modified their holdings of LLY. WestEnd Advisors LLC increased its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its position 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 valued at $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at $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 valued at $49,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Down 0.4%

Eli Lilly and Company stock traded down $3.19 during midday trading on Wednesday, hitting $759.76. 4,331,834 shares of the company's stock were exchanged, compared to its average volume of 2,949,040. 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 50-day moving average of $774.07 and a two-hundred day moving average of $800.13. The company has a market cap of $720.05 billion, a PE ratio of 61.82, a P/E/G ratio of 1.08 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 earnings per share. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

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.