Harvest Portfolios Group Inc. Grows Position in Eli Lilly and Company $LLY

Key Points

• Harvest Portfolios Group Inc. has increased its stake in Eli Lilly and Company by 2.7%, now holding 126,155 shares valued at approximately $104 million.
• Multiple hedge funds have also adjusted their holdings in Eli Lilly, with significant increases from O'Brien Wealth Partners LLC (25.5%) and others such as Hobbs Wealth Management LLC and Hixon Zuercher LLC.
• Eli Lilly recently reported better-than-expected earnings, with a quarterly revenue of $15.56 billion, which is a 37.6% increase year-over-year.

Harvest Portfolios Group Inc. grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 126,155 shares of the company's stock after acquiring an additional 3,263 shares during the quarter. Eli Lilly and Company accounts for 3.1% of Harvest Portfolios Group Inc.'s portfolio, making the stock its 3rd biggest holding. Harvest Portfolios Group Inc.'s holdings in Eli Lilly and Company were worth $104,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Redwood Investments LLC grew its holdings in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after buying an additional 12 shares during the last quarter. Hobbs Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after buying an additional 12 shares during the last quarter. Hixon Zuercher LLC grew its holdings in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after buying an additional 12 shares during the last quarter. O Brien Wealth Partners LLC grew its holdings in shares of 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 buying an additional 12 shares during the last quarter. Finally, Ascent Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 2.5% during the first quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Daiwa Capital Markets downgraded shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target for the company. in a research report on Sunday, August 17th. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $950.17.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Ricks acquired 1,632 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares in the company, valued at $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock worth $2,894,841 in the last quarter. Insiders own 0.14% of the company's stock.

Eli Lilly and Company Trading Down 2.2%

Shares of Eli Lilly and Company stock opened at $696.08 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.48. The company has a market capitalization of $658.81 billion, a P/E ratio of 45.50, a P/E/G ratio of 0.99 and a beta of 0.44. The business has a 50 day moving average price of $752.46 and a 200 day moving average price of $788.70.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared 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. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 39.22%.

Eli Lilly and Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.