New World Advisors LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

New World Advisors LLC increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 47.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,078 shares of the company's stock after purchasing an additional 349 shares during the quarter. Eli Lilly and Company makes up about 0.2% of New World Advisors LLC's investment portfolio, making the stock its 16th largest holding. New World Advisors LLC's holdings in Eli Lilly and Company were worth $890,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Knightsbridge Asset Management LLC lifted its position in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after acquiring an additional 15 shares during the period. LS Investment Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares in the last quarter. CSM Advisors LLC increased its stake in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. Finally, Bfsg LLC boosted its position in shares of Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 0.5%

NYSE:LLY opened at $795.97 on Friday. The company has a market cap of $754.37 billion, a PE ratio of 64.77, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company has a 50 day simple moving average of $781.50 and a two-hundred day simple moving average of $800.11. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the business earned $2.58 earnings per share. Research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid 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 0.75%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LLY shares. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. One research 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

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.

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