Summa Corp. Invests $312,000 in Eli Lilly and Company (NYSE:LLY)

Summa Corp. acquired a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 378 shares of the company's stock, valued at approximately $312,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake 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 valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Norges Bank bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $8,407,908,000. Proficio Capital Partners LLC grew its holdings in shares of 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 buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its position 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 valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors lifted its stake in Eli Lilly and Company by 23.2% in the 4th 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 in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of 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. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $6.96 during mid-day trading on Thursday, reaching $784.28. The company's stock had a trading volume of 2,441,727 shares, compared to its average volume of 3,656,357. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business has a 50-day simple moving average of $778.55 and a two-hundred day simple moving average of $801.58. The stock has a market cap of $743.29 billion, a P/E ratio of 63.81, a PEG ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results 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 net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the company posted $2.58 EPS. The firm's revenue was up 45.2% on a year-over-year basis. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, May 16th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, May 16th. 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.