Palumbo Wealth Management LLC Invests $411,000 in Eli Lilly and Company (NYSE:LLY)

Palumbo Wealth Management LLC acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 497 shares of the company's stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Knightsbridge Asset Management LLC grew its holdings in Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares during the period. LS Investment Advisors LLC raised its stake in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after acquiring an additional 40 shares during the period. CSM Advisors LLC lifted its holdings in 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 increased its stake in shares of Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Bfsg LLC raised its position in shares of Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after purchasing an additional 42 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 1.1%

Shares of NYSE LLY traded up $8.33 during mid-day trading on Tuesday, reaching $778.97. The company had a trading volume of 2,773,370 shares, compared to its average volume of 3,666,228. The stock has a market cap of $738.26 billion, a price-to-earnings ratio of 63.38, a price-to-earnings-growth ratio of 1.11 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The business's 50-day moving average is $780.81 and its 200-day moving average is $800.36. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results 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). The company 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%. The business's revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. Equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.79.

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.