Proficio Capital Partners LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Proficio Capital Partners LLC boosted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 170.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,241 shares of the company's stock after acquiring an additional 11,502 shares during the period. Eli Lilly and Company accounts for 1.2% of Proficio Capital Partners LLC's portfolio, making the stock its 18th largest holding. Proficio Capital Partners LLC's holdings in Eli Lilly and Company were worth $15,065,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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 period. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Wellington Management Group LLP lifted its holdings in 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 buying an additional 2,012,129 shares in the last quarter. Capital International Investors lifted its holdings in Eli Lilly and Company by 23.2% during the 4th 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 in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the subject of several research reports. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim upped their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $5.85 during midday trading on Thursday, reaching $804.74. The company's stock had a trading volume of 2,783,706 shares, compared to its average volume of 3,774,022. The firm has a market capitalization of $762.68 billion, a PE ratio of 65.48, a P/E/G ratio of 1.12 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 stock has a fifty day moving average of $769.41 and a 200 day moving average of $799.86. 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 (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during 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%. The firm's 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 EPS. On average, equities analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.75%. 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.