Tounjian Advisory Partners LLC Buys Shares of 4,626 Eli Lilly and Company (NYSE:LLY)

Tounjian Advisory Partners LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 4,626 shares of the company's stock, valued at approximately $3,820,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elevate Capital Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $262,000. Capital & Planning LLC boosted its stake in Eli Lilly and Company by 15.6% during the fourth quarter. Capital & Planning LLC now owns 481 shares of the company's stock worth $371,000 after acquiring an additional 65 shares in the last quarter. Garner Asset Management Corp grew its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the period. Brighton Jones LLC increased its stake in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $49,534,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. One equities research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $3.01 during mid-day trading on Thursday, hitting $811.62. 2,264,167 shares of the company traded hands, compared to its average volume of 3,645,513. The stock has a market cap of $769.20 billion, a price-to-earnings ratio of 69.31, a P/E/G ratio of 1.40 and a beta of 0.41. The stock has a 50-day moving average price of $771.74 and a two-hundred day moving average price of $800.91. 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 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

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 for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company's payout ratio is 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.