3,000 Shares in Eli Lilly and Company (NYSE:LLY) Acquired by RedJay Asset Management Inc.

RedJay Asset Management Inc. bought a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,000 shares of the company's stock, valued at approximately $2,478,000. Eli Lilly and Company comprises 1.3% of RedJay Asset Management Inc.'s holdings, making the stock its 28th biggest position.

Other hedge funds have also recently bought and sold shares of the company. WestEnd Advisors LLC raised its holdings in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department boosted its holdings in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $43,000. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. Finally, Highline Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 53.3% during the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after purchasing an additional 24 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LLY. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group dropped their target price 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 research report on Friday, May 2nd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald started 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 on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Price Performance

Shares of LLY traded down $2.66 during mid-day trading on Thursday, reaching $776.62. The company had a trading volume of 666,685 shares, compared to its average volume of 3,659,847. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company has a market capitalization of $736.04 billion, a P/E ratio of 63.22, a P/E/G ratio of 1.13 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's 50-day moving average is $777.35 and its 200-day moving average is $799.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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