LPL Financial LLC Increases Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• LPL Financial LLC increased its holdings in Eli Lilly and Company by 7.5%, purchasing an additional 71,202 shares, bringing its total ownership to over 1 million shares valued at approximately $842 million.
• Institutional investors collectively own 82.53% of Eli Lilly's shares, indicating strong institutional confidence in the company.
• Eli Lilly's quarterly earnings reported a miss on EPS estimates, with earnings per share of $3.34, falling short of the expected $4.64, while revenue saw a 45.2% year-over-year increase.

LPL Financial LLC increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,020,851 shares of the company's stock after buying an additional 71,202 shares during the period. LPL Financial LLC owned about 0.11% of Eli Lilly and Company worth $842,497,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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. Wellington Management Group LLP boosted its position 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 acquiring an additional 2,012,129 shares during the last quarter. Capital International Investors boosted its position in 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 acquiring an additional 1,645,222 shares during the last quarter. Capital Research Global Investors raised its stake in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Eli Lilly and Company by 14.6% in the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after acquiring an additional 1,204,337 shares during the period. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Guggenheim raised their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Up 0.3%

Eli Lilly and Company stock traded up $2.00 during midday trading on Wednesday, reaching $764.95. The stock had a trading volume of 2,065,594 shares, compared to its average volume of 3,771,090. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm's fifty day simple moving average is $773.36 and its 200-day simple moving average is $800.41. The stock has a market capitalization of $724.97 billion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53.

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 analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. 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.