Penobscot Investment Management Company Inc. Raises Position in Eli Lilly and Company (NYSE:LLY)

Penobscot Investment Management Company Inc. increased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,567 shares of the company's stock after acquiring an additional 394 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Eli Lilly and Company were worth $7,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after acquiring an additional 475,530 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. GAMMA Investing LLC lifted its position 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 worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $18.94 during trading hours on Friday, reaching $776.18. 4,109,419 shares of the company's stock were exchanged, compared to its average volume of 3,675,428. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.16 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 company has a 50-day moving average of $781.50 and a 200 day moving average of $800.11.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. UBS Group decreased their price target on 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. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reissued a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a report on Friday, June 20th. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

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.