Joel Isaacson & Co. LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Joel Isaacson & Co. LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,655 shares of the company's stock after acquiring an additional 629 shares during the period. Joel Isaacson & Co. LLC's holdings in Eli Lilly and Company were worth $5,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $8,407,908,000. Wellington Management Group LLP lifted its position in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Capital International Investors boosted its stake in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $1,240,653,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on LLY shares. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Up 0.4%

NYSE:LLY traded up $3.06 on Wednesday, reaching $778.96. 1,977,577 shares of the stock traded hands, compared to its average volume of 3,671,348. The company has a market capitalization of $738.25 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 1.13 and a beta of 0.40. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company's fifty day simple moving average is $777.35 and its 200 day simple moving average is $799.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 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.