Turtle Creek Wealth Advisors LLC Purchases New Holdings in Eli Lilly and Company (NYSE:LLY)

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,996 shares of the company's stock, valued at approximately $9,908,000. Eli Lilly and Company comprises approximately 1.5% of Turtle Creek Wealth Advisors LLC's portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. GAMMA Investing LLC raised its stake in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $8,407,908,000. Wellington Management Group LLP raised its position in shares of 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 worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors lifted its stake in shares of 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 purchasing an additional 1,645,222 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LLY shares. Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. UBS Group dropped their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Trading Up 0.8%

LLY stock traded up $6.50 during midday trading on Monday, hitting $799.51. The company had a trading volume of 2,400,830 shares, compared to its average volume of 3,806,772. The stock has a market cap of $757.72 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The stock's 50 day moving average price is $766.39 and its 200 day moving average price is $800.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS 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 for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. The company's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and Company 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.