Latitude Advisors LLC Has $1.86 Million Position in Eli Lilly and Company (NYSE:LLY)

Latitude Advisors LLC increased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 79.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,246 shares of the company's stock after purchasing an additional 993 shares during the period. Eli Lilly and Company makes up 1.1% of Latitude Advisors LLC's portfolio, making the stock its 18th biggest position. Latitude Advisors LLC's holdings in Eli Lilly and Company were worth $1,855,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LLY. WestEnd Advisors LLC boosted its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its position in shares of 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 purchasing an additional 27 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the 4th quarter valued at about $43,000. O Brien Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $779.60 on Friday. 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 1-year low of $677.09 and a 1-year high of $972.53. The stock has a market capitalization of $738.85 billion, a P/E ratio of 63.43, a P/E/G ratio of 1.14 and a beta of 0.40. The business has a 50-day moving average price of $775.72 and a two-hundred day moving average price of $799.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly 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). The business 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 85.51% and a net margin of 22.67%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim restated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company 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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