Poinciana Advisors Group LLC Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Poinciana Advisors Group LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 440 shares of the company's stock, valued at approximately $363,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Eli Lilly and Company by 1.7% in 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 raised its position in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying 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 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $8,407,908,000. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LLY shares. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reaffirmed a "buy" rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday, June 20th. 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 target price on the stock. UBS Group cut their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Up 1.2%

Shares of NYSE:LLY opened at $787.00 on Thursday. 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 business has a fifty day moving average of $767.12 and a two-hundred day moving average of $800.05. The stock has a market cap of $745.87 billion, a P/E ratio of 64.04, a PEG ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results 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%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

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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