Robertson Stephens Wealth Management LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Robertson Stephens Wealth Management LLC boosted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,975 shares of the company's stock after purchasing an additional 484 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Eli Lilly and Company were worth $4,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FWG Holdings LLC raised its stake in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after acquiring an additional 12 shares in the last quarter. Morling Financial Advisors LLC raised its stake in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after acquiring an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp raised its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.9%

NYSE:LLY traded down $6.96 during trading hours on Wednesday, hitting $784.28. The company had a trading volume of 2,441,727 shares, compared to its average volume of 3,656,356. The company has a market capitalization of $743.29 billion, a PE ratio of 63.81, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The stock has a 50-day moving average price of $777.90 and a 200 day moving average price of $801.70. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share 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 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 firm earned $2.58 EPS. On average, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

Several research analysts have commented on LLY shares. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. UBS Group cut 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 report on Friday, May 2nd. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,011.37.

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.