Smithbridge Asset Management Inc. DE Buys Shares of 13,452 Eli Lilly and Company (NYSE:LLY)

Smithbridge Asset Management Inc. DE purchased a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,452 shares of the company's stock, valued at approximately $11,110,000. Eli Lilly and Company makes up about 2.1% of Smithbridge Asset Management Inc. DE's investment portfolio, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company during the fourth quarter worth $8,407,908,000. Proficio Capital Partners LLC lifted its stake in 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 worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Capital International Investors increased its stake in 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 during the last quarter. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LLY shares. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $6.53 during mid-day trading on Friday, hitting $818.56. The stock had a trading volume of 2,753,537 shares, compared to its average volume of 3,651,762. The stock has a market capitalization of $775.78 billion, a price-to-earnings ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a 50 day simple moving average of $773.53 and a 200-day simple moving average of $801.30. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data 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 firm 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 23.51% and a return on equity of 85.24%. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 earnings per share. On average, research 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 business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.73%. Eli Lilly and Company's payout ratio is 48.82%.

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.