Moors & Cabot Inc. Has $18.20 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Moors & Cabot Inc. increased its stake in Eli Lilly and Company by 7.8%, owning 22,036 shares valued at approximately $18.2 million.
• Eli Lilly reported quarterly earnings of $3.34 EPS, missing estimates by $1.30, with revenue of $12.73 billion, falling short of expectations.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized dividend yield of 0.8%.

Moors & Cabot Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,036 shares of the company's stock after acquiring an additional 1,598 shares during the period. Eli Lilly and Company makes up 0.9% of Moors & Cabot Inc.'s holdings, making the stock its 18th biggest holding. Moors & Cabot Inc.'s holdings in Eli Lilly and Company were worth $18,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Nicolet Advisory Services LLC lifted its stake in Eli Lilly and Company by 16.0% in the first quarter. Nicolet Advisory Services LLC now owns 3,814 shares of the company's stock worth $3,150,000 after acquiring an additional 527 shares during the last quarter. Momentous Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth $225,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Eli Lilly and Company by 74.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,860 shares of the company's stock valued at $10,621,000 after acquiring an additional 5,497 shares during the last quarter. Harbour Investments Inc. grew its stake in Eli Lilly and Company by 2.5% in the 1st quarter. Harbour Investments Inc. now owns 12,784 shares of the company's stock valued at $10,558,000 after acquiring an additional 317 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Eli Lilly and Company by 3.4% during the first quarter. HHM Wealth Advisors LLC now owns 2,622 shares of the company's stock worth $2,166,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $21.40 on Friday, reaching $761.47. The stock had a trading volume of 4,857,388 shares, compared to its average volume of 3,285,034. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm has a fifty day moving average of $775.51 and a two-hundred day moving average of $799.86. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market cap of $721.67 billion, a P/E ratio of 61.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its 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 company had revenue of $12.73 billion for 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 business's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of brokerages have recently commented on LLY. Guggenheim lifted 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 report on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. 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 for the company. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.