Solidarity Wealth LLC Purchases Shares of 2,421 Eli Lilly and Company (NYSE:LLY)

Key Points

• Solidarity Wealth LLC purchased approximately $2 million worth of Eli Lilly and Company shares, acquiring 2,421 shares during the first quarter.
• Eli Lilly recently reported a quarterly EPS of $3.34, missing analysts' estimates, but achieved a 45.2% year-over-year revenue growth.
• The company's board has declared a quarterly dividend of $1.50 per share, with an annualized yield of 0.74%, reflecting a payout ratio of 48.82%.

Solidarity Wealth LLC purchased a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,421 shares of the company's stock, valued at approximately $2,000,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the period. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Capital International Investors increased its position in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Capital Research Global Investors raised its stake in shares of Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after purchasing an additional 1,204,337 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $14.68 during midday trading on Thursday, hitting $745.40. 3,309,889 shares of the stock traded hands, compared to its average volume of 3,782,939. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The firm has a market capitalization of $706.45 billion, a P/E ratio of 60.75, a PEG ratio of 1.08 and a beta of 0.40. The firm has a 50-day moving average of $774.07 and a two-hundred day moving average of $800.13.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) 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 analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. 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 started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.