Nutshell Asset Management Ltd Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• Nutshell Asset Management Ltd increased its holdings in Eli Lilly by 43% this quarter, owning 4,990 shares valued at approximately $4.12 million.
• Eli Lilly recently reported earnings of $6.31 EPS, exceeding estimates, with revenue reaching $15.56 billion, a year-over-year increase of 37.6%.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized dividend yield of 0.9%.

Nutshell Asset Management Ltd raised its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 43.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,990 shares of the company's stock after acquiring an additional 1,500 shares during the quarter. Eli Lilly and Company makes up approximately 2.1% of Nutshell Asset Management Ltd's portfolio, making the stock its 17th biggest position. Nutshell Asset Management Ltd's holdings in Eli Lilly and Company were worth $4,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Garner Asset Management Corp boosted its position in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares during the period. Tobias Financial Advisors Inc. grew its holdings in Eli Lilly and Company by 4.1% during the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after acquiring an additional 12 shares in the last quarter. Redwood Investments LLC increased its holdings in Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after buying an additional 12 shares during the last quarter. Hobbs Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after acquiring an additional 12 shares in the last quarter. Finally, Hixon Zuercher LLC boosted its holdings in Eli Lilly and Company by 0.7% in the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $640.17 on Friday. The stock has a fifty day moving average price of $776.36 and a 200 day moving average price of $799.60. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market cap of $606.71 billion, a PE ratio of 52.09, a P/E/G ratio of 1.06 and a beta of 0.44. Eli Lilly and Company has a 1 year low of $633.20 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.92 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LLY. Morgan Stanley reaffirmed an "overweight" rating and issued 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. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $999.50.

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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