Salomon & Ludwin LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Salomon & Ludwin LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 53.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,140 shares of the company's stock after buying an additional 396 shares during the quarter. Salomon & Ludwin LLC's holdings in Eli Lilly and Company were worth $942,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FWG Holdings LLC grew its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its position 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 during the last quarter. Prestige Wealth Management Group LLC grew its stake in 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 valued at $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in 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 valued at $660,000 after acquiring an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 0.0%

Shares of NYSE:LLY traded up $0.32 on Thursday, reaching $779.60. The company had a trading volume of 1,450,772 shares, compared to its average volume of 3,662,501. The firm has a market capitalization of $738.85 billion, a PE ratio of 63.43, a PEG ratio of 1.13 and a beta of 0.40. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm's 50 day simple moving average is $777.35 and its 200-day simple moving average is $799.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The company's revenue was up 45.2% compared to the same quarter last year. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 48.82%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Guggenheim restated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company 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.