Oppenheimer Asset Management Inc. Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Oppenheimer Asset Management Inc. lifted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 26.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 78,282 shares of the company's stock after acquiring an additional 16,442 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 17th biggest holding. Oppenheimer Asset Management Inc.'s holdings in Eli Lilly and Company were worth $64,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LLY. GAMMA Investing LLC boosted its stake in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. Proficio Capital Partners LLC grew its holdings in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP raised its position in shares of Eli Lilly and Company by 19.0% in the 4th 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 in the last quarter. Finally, Capital International Investors boosted its position in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. 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. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.79.

Eli Lilly and Company Price Performance

LLY traded up $8.33 during trading on Tuesday, hitting $778.97. 2,773,370 shares of the company traded hands, compared to its average volume of 3,666,228. The company has a market cap of $738.26 billion, a PE ratio of 63.38, a P/E/G ratio of 1.11 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. 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 stock's 50-day simple moving average is $780.81 and its two-hundred day simple moving average is $800.36.

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

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. 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.