Spartan Planning & Wealth Management Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Spartan Planning & Wealth Management grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 91.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,427 shares of the company's stock after acquiring an additional 683 shares during the quarter. Eli Lilly and Company comprises approximately 1.1% of Spartan Planning & Wealth Management's investment portfolio, making the stock its 22nd biggest position. Spartan Planning & Wealth Management's holdings in Eli Lilly and Company were worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $43,000. FPC Investment Advisory Inc. grew 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 acquiring an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $48,000. Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $4.39 during trading on Tuesday, reaching $751.51. The company had a trading volume of 1,369,093 shares, compared to its average volume of 3,994,186. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock's fifty day moving average price is $775.24 and its 200 day moving average price is $799.98. The firm has a market capitalization of $712.23 billion, a price-to-earnings ratio of 64.18, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The company's revenue was up 45.2% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of several research reports. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, UBS Group decreased their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

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.