StoneCrest Wealth Management Inc. Buys 841 Shares of Eli Lilly and Company (NYSE:LLY)

StoneCrest Wealth Management Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,109 shares of the company's stock after purchasing an additional 841 shares during the period. Eli Lilly and Company comprises about 3.2% of StoneCrest Wealth Management Inc.'s investment portfolio, making the stock its 8th largest position. StoneCrest Wealth Management Inc.'s holdings in Eli Lilly and Company were worth $5,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. increased its position in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after purchasing an additional 43 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $43,000. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at $48,000. Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the 4th quarter valued at $50,000. Finally, Capital A Wealth Management LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at $63,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $4.32 on Friday, reaching $770.00. The company's stock had a trading volume of 2,068,266 shares, compared to its average volume of 3,650,297. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market cap of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The business's fifty day moving average price is $770.87 and its 200 day moving average price is $799.95. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 EPS. The company's revenue was up 45.2% compared to the same quarter last year. Equities 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on 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 owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on LLY shares. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

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.