Prostatis Group LLC Buys Shares of 356 Eli Lilly and Company (NYSE:LLY)

Prostatis Group LLC acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 356 shares of the company's stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Norges Bank purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC boosted its stake in shares of 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 valued at $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Eli Lilly and Company by 19.0% during the fourth 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 in the last quarter. Capital International Investors boosted its stake in shares of 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 shares of Eli Lilly and Company during the fourth quarter valued at approximately $1,240,653,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LLY. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $15.76 during trading on Friday, hitting $738.33. 6,102,436 shares of the company's stock were exchanged, compared to its average volume of 3,643,048. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business has a 50-day simple moving average of $776.85 and a 200-day simple moving average of $799.96. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market capitalization of $699.74 billion, a price-to-earnings ratio of 63.05, a PEG ratio of 1.40 and a beta of 0.48.

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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the business earned $2.58 EPS. The company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, research analysts forecast 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 Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. Eli Lilly and Company's payout ratio 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.