Petra Financial Advisors Inc. Makes New $363,000 Investment in Eli Lilly and Company (NYSE:LLY)

Petra Financial Advisors Inc. bought a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 440 shares of the company's stock, valued at approximately $363,000.

Other hedge funds have also made changes to their positions in the company. Mayport LLC boosted its stake in Eli Lilly and Company by 45.5% in the first quarter. Mayport LLC now owns 892 shares of the company's stock valued at $737,000 after acquiring an additional 279 shares in the last quarter. Worth Financial Advisory Group LLC grew its holdings in shares of Eli Lilly and Company by 303.0% during the first quarter. Worth Financial Advisory Group LLC now owns 1,221 shares of the company's stock worth $1,008,000 after buying an additional 918 shares during the last quarter. Cabot Wealth Management Inc. increased its position in Eli Lilly and Company by 37.2% in the 1st quarter. Cabot Wealth Management Inc. now owns 8,722 shares of the company's stock valued at $7,204,000 after acquiring an additional 2,367 shares during the period. Castleview Partners LLC increased its position in Eli Lilly and Company by 7.6% in the 1st quarter. Castleview Partners LLC now owns 750 shares of the company's stock valued at $619,000 after acquiring an additional 53 shares during the period. Finally, Mizuho Securities Co. Ltd. raised its stake in Eli Lilly and Company by 1,400.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 150 shares of the company's stock valued at $124,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

LLY has been the topic of several analyst reports. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Guggenheim reaffirmed a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, 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. One investment 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. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

Shares of LLY traded up $14.33 during mid-day trading on Wednesday, reaching $792.41. 3,021,908 shares of the company's stock were exchanged, compared to its average volume of 3,670,145. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a market cap of $751.00 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 1.14 and a beta of 0.40. The company has a 50-day simple moving average of $781.26 and a two-hundred day simple moving average of $800.21.

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

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is 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.