Morris Financial Concepts Inc. Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Morris Financial Concepts Inc. boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 34.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,195 shares of the company's stock after purchasing an additional 557 shares during the period. Eli Lilly and Company comprises 0.8% of Morris Financial Concepts Inc.'s investment portfolio, making the stock its 23rd biggest position. Morris Financial Concepts Inc.'s holdings in Eli Lilly and Company were worth $1,813,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC increased its position in Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in 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. Finally, Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LLY shares. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Trading Down 1.0%

Shares of Eli Lilly and Company stock traded down $7.85 during trading hours on Monday, hitting $772.82. The company's stock had a trading volume of 2,575,478 shares, compared to its average volume of 3,663,620. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business has a fifty day moving average of $773.61 and a 200 day moving average of $800.26. The company has a market capitalization of $732.43 billion, a PE ratio of 62.88, a P/E/G ratio of 1.14 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

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

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's payout ratio is currently 48.82%.

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.