Kessler Investment Group LLC lifted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,964 shares of the company's stock after buying an additional 876 shares during the period. Eli Lilly and Company comprises 2.8% of Kessler Investment Group LLC's holdings, making the stock its 18th largest position. Kessler Investment Group LLC's holdings in Eli Lilly and Company were worth $5,752,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LLY. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter worth $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter worth $48,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 53.3% in the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after purchasing an additional 24 shares during the period. Capital A Wealth Management LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth $63,000. Finally, Bellwether Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth $66,000. Institutional investors own 82.53% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on LLY. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. 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 shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. Finally, HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,011.61.
Get Our Latest Stock Analysis on LLY
Eli Lilly and Company Stock Performance
Shares of LLY traded down $18.94 during mid-day trading on Friday, hitting $776.18. 4,109,419 shares of the company's stock were exchanged, compared to its average volume of 3,683,590. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The stock's 50-day simple moving average is $780.19 and its 200-day simple moving average is $799.96. The firm has a market cap of $735.61 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company Announces Dividend
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.
About Eli Lilly and Company
(
Free Report)
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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