Portside Wealth Group LLC Buys 3,738 Shares of Eli Lilly and Company (NYSE:LLY)

Portside Wealth Group LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 119.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,867 shares of the company's stock after buying an additional 3,738 shares during the period. Eli Lilly and Company comprises about 0.9% of Portside Wealth Group LLC's portfolio, making the stock its 21st largest holding. Portside Wealth Group LLC's holdings in Eli Lilly and Company were worth $5,301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. GAMMA Investing LLC raised its position in Eli Lilly and Company by 103,831.6% during the first 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 during the period. Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter worth $8,407,908,000. Proficio Capital Partners LLC increased its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP grew 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 acquiring an additional 2,012,129 shares during the period. Finally, Capital International Investors lifted its position in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $0.71 during mid-day trading on Thursday, reaching $765.13. 3,632,853 shares of the stock were exchanged, compared to its average volume of 3,644,547. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The business has a fifty day moving average price of $772.75 and a 200 day moving average price of $799.41. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The firm has a market capitalization of $725.14 billion, a PE ratio of 65.34, a PEG ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data 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 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LLY shares. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, UBS Group cut their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $1,011.37.

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.