Meridian Financial Partners LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Meridian Financial Partners LLC bought a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 1,047 shares of the company's stock, valued at approximately $865,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of LLY. Bennett Selby Investments LP raised its stake in shares of Eli Lilly and Company by 60.3% in the first quarter. Bennett Selby Investments LP now owns 962 shares of the company's stock valued at $795,000 after acquiring an additional 362 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Eli Lilly and Company by 13.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 738 shares of the company's stock worth $610,000 after purchasing an additional 90 shares during the period. Park Avenue Securities LLC raised its position in Eli Lilly and Company by 22.8% in the 1st quarter. Park Avenue Securities LLC now owns 23,661 shares of the company's stock valued at $19,542,000 after purchasing an additional 4,387 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Eli Lilly and Company by 1,127.1% in the 1st quarter. SOA Wealth Advisors LLC. now owns 11,351 shares of the company's stock valued at $9,375,000 after purchasing an additional 10,426 shares in the last quarter. Finally, Greenspring Advisors LLC boosted its stake in shares of Eli Lilly and Company by 20.2% in the 1st quarter. Greenspring Advisors LLC now owns 1,490 shares of the company's stock valued at $1,231,000 after buying an additional 250 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $3.01 during trading on Thursday, reaching $811.62. The company's stock had a trading volume of 2,264,167 shares, compared to its average volume of 3,645,503. The business's fifty day moving average price is $771.74 and its 200-day moving average price is $800.91. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market cap of $769.20 billion, a price-to-earnings ratio of 69.31, a P/E/G ratio of 1.40 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue was up 45.2% on a year-over-year basis. As a group, analysts anticipate 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 was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on LLY. Cantor Fitzgerald assumed 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 target price on the stock. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. UBS Group dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

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.