Suncoast Equity Management Has $35.84 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Suncoast Equity Management grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,399 shares of the company's stock after acquiring an additional 1,620 shares during the quarter. Eli Lilly and Company accounts for 4.1% of Suncoast Equity Management's holdings, making the stock its 12th biggest position. Suncoast Equity Management's holdings in Eli Lilly and Company were worth $35,844,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Guggenheim reiterated a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a research note on Friday. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,011.79.

Eli Lilly and Company Stock Down 2.8%

LLY stock opened at $763.43 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market capitalization of $723.53 billion, a price-to-earnings ratio of 62.12, a PEG ratio of 1.11 and a beta of 0.40. The business's fifty day moving average price is $780.48 and its two-hundred day moving average price is $800.93. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. On average, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

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.

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