Investment Partners Asset Management Inc. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Investment Partners Asset Management Inc. bought a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 345 shares of the company's stock, valued at approximately $285,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank bought a new position in Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC boosted its position in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP grew its stake in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after buying an additional 1,645,222 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen 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 a consensus price target of $1,011.37.

Eli Lilly and Company Stock Up 0.6%

LLY stock traded up $5.00 during midday trading on Thursday, hitting $813.61. The company's stock had a trading volume of 1,072,663 shares, compared to its average volume of 3,938,277. The company's fifty day moving average price is $771.74 and its 200 day moving average price is $800.91. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a market capitalization of $771.09 billion, a P/E ratio of 69.48, a PEG ratio of 1.40 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly 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 company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. 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.