Norden Group LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Norden Group LLC increased its stake in Eli Lilly and Company by 24.6% in Q1, owning 8,710 shares worth approximately $7.19 million at the end of the reporting period.
• Analysts have mixed sentiments on Eli Lilly, with HSBC downgrading its rating from "buy" to "reduce," while Morgan Stanley maintains an "overweight" rating with a price target of $1,135.00.
• Eli Lilly recently announced a quarterly dividend of $1.50, resulting in an annualized dividend of $6.00 and a yield of 0.74% based on current stock prices.

Norden Group LLC boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 24.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,710 shares of the company's stock after buying an additional 1,717 shares during the quarter. Eli Lilly and Company makes up about 0.8% of Norden Group LLC's holdings, making the stock its 15th largest position. Norden Group LLC's holdings in Eli Lilly and Company were worth $7,194,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LLY. Garner Asset Management Corp boosted its position in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares during the period. Brighton Jones LLC boosted its position in shares of Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC boosted its stake in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after buying an additional 40 shares during the period. Orion Capital Management LLC boosted its stake in Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after buying an additional 40 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its stake in Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after buying an additional 2,568 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LLY shares. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Guggenheim increased 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. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Trading Up 0.8%

Shares of LLY stock opened at $811.73 on Monday. The stock has a market capitalization of $769.31 billion, a PE ratio of 66.05, a P/E/G ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business has a 50-day moving average of $771.95 and a 200 day moving average of $800.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the business posted $2.58 EPS. The company's quarterly revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share 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 paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 48.82%.

Eli Lilly and 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.

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