New England Research & Management Inc. Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

New England Research & Management Inc. grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711 shares of the company's stock after purchasing an additional 310 shares during the period. Eli Lilly and Company makes up about 1.1% of New England Research & Management Inc.'s holdings, making the stock its 24th largest holding. New England Research & Management Inc.'s holdings in Eli Lilly and Company were worth $2,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Wellington Management Group LLP grew its position in 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 period. Finally, Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $8,407,908,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LLY shares. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group lowered their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE LLY traded up $6.53 during mid-day trading on Friday, hitting $818.56. The company had a trading volume of 2,753,537 shares, compared to its average volume of 3,658,306. The company has a market capitalization of $775.78 billion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business's 50-day simple moving average is $775.43 and its 200 day simple moving average is $801.59.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm's revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. On average, 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 was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.