Pinnacle Financial Partners Inc Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Pinnacle Financial Partners Inc lifted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,198 shares of the company's stock after purchasing an additional 3,916 shares during the quarter. Eli Lilly and Company comprises about 0.7% of Pinnacle Financial Partners Inc's investment portfolio, making the stock its 29th biggest position. Pinnacle Financial Partners Inc's holdings in Eli Lilly and Company were worth $32,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 14,852,076 shares in the last quarter. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. Wellington Management Group LLP increased its position in Eli Lilly and Company by 19.0% in 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 during the last quarter. Capital International Investors raised its stake in 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. Finally, Raymond James Financial Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at $1,240,653,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.0%

NYSE:LLY opened at $779.60 on Friday. The company has a market cap of $738.85 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month 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 has a fifty day simple moving average of $775.72 and a 200-day simple moving average of $799.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $2.58 earnings per share. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company 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. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Analyst Ratings Changes

A number of equities analysts have commented on LLY shares. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Finally, Guggenheim reissued a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average price target of $1,011.61.

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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