Koss Olinger Consulting LLC Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Koss Olinger Consulting LLC invested approximately $388,000 to acquire 470 shares of Eli Lilly and Company, highlighting growing institutional interest in the firm.
• Eli Lilly reported a quarterly earnings per share of $6.31, surpassing estimates, with a revenue increase of 37.6% year-over-year.
• The company announced a $1.50 quarterly dividend to be paid on September 10th, reflecting a yield of 1.0% and a payout ratio of 48.82%.

Koss Olinger Consulting LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 470 shares of the company's stock, valued at approximately $388,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. WestEnd Advisors LLC raised its stake in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department raised its stake in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on LLY shares. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Leerink Partners reissued a "market perform" rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $984.41.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $15.71 on Friday, hitting $625.15. 14,089,857 shares of the stock traded hands, compared to its average volume of 5,397,104. The firm has a market capitalization of $591.68 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.87 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The business's fifty day moving average is $774.10 and its two-hundred day moving average is $799.34. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the company earned $3.92 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. Eli Lilly and Company's payout ratio is currently 48.82%.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson acquired 200 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company's stock.

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.