Sovran Advisors LLC Acquires 504 Shares of Eli Lilly and Company (NYSE:LLY)

Sovran Advisors LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 100.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,007 shares of the company's stock after buying an additional 504 shares during the quarter. Sovran Advisors LLC's holdings in Eli Lilly and Company were worth $846,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. WestEnd Advisors LLC increased its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $48,000. Highline Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 53.3% in the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock valued at $57,000 after acquiring an additional 24 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $63,000. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Performance

LLY opened at $776.18 on Monday. The company has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.13 and a beta of 0.41. The business's 50-day moving average price is $780.19 and its two-hundred day moving average price is $800.08. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year 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 announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the business posted $2.58 EPS. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 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.

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