HB Wealth Management LLC Buys 11,512 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• HB Wealth Management LLC increased its stake in Eli Lilly and Company by 26.3%, now owning a total of 55,295 shares worth approximately $45.67 million.
• The company reported an EPS of $3.34 for the last quarter, falling short of analysts' expectations of $4.64, though its revenue increased by 45.2% year-over-year.
• The next quarterly dividend is set at $1.50 per share, with an annualized yield of 0.74%, scheduled for payment on September 10th.

HB Wealth Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 26.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,295 shares of the company's stock after buying an additional 11,512 shares during the period. HB Wealth Management LLC's holdings in Eli Lilly and Company were worth $45,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after buying an additional 1,730 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after buying an additional 40 shares during the period. Orion Capital Management LLC boosted its position in shares of Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after buying an additional 40 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after buying an additional 2,568 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $811.73 on Friday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a market cap of $769.31 billion, a price-to-earnings ratio of 66.05, a P/E/G ratio of 1.16 and a beta of 0.40. The firm's 50-day simple moving average is $771.95 and its 200 day simple moving average is $800.41. 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 (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. Eli Lilly and Company's revenue was up 45.2% on a year-over-year basis. As a group, 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 company also recently disclosed 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 yield of 0.74%. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Guggenheim increased their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

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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