Salem Investment Counselors Inc. Purchases 2,827 Shares of Eli Lilly and Company (NYSE:LLY)

Salem Investment Counselors Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,443 shares of the company's stock after acquiring an additional 2,827 shares during the period. Eli Lilly and Company makes up 2.1% of Salem Investment Counselors Inc.'s holdings, making the stock its 10th biggest holding. Salem Investment Counselors Inc.'s holdings in Eli Lilly and Company were worth $59,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. FPC Investment Advisory Inc. raised its position in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $48,000. Capital A Wealth Management LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $63,000. Finally, Bellwether Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $66,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $6.53 on Friday, hitting $818.56. The company's stock had a trading volume of 2,753,537 shares, compared to its average volume of 3,658,306. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a fifty day moving average price of $775.43 and a 200-day moving average price of $801.59. The company has a market capitalization of $775.78 billion, a P/E ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 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 during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. Eli Lilly and Company's dividend payout ratio is presently 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.