Eli Lilly and Company (NYSE:LLY) Shares Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 91.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,322 shares of the company's stock after acquiring an additional 630 shares during the quarter. Verity Asset Management Inc.'s holdings in Eli Lilly and Company were worth $1,093,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. BCK Partners Inc. purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $202,000. Crown Wealth Group LLC raised its position in Eli Lilly and Company by 6.0% during the 1st quarter. Crown Wealth Group LLC now owns 3,282 shares of the company's stock valued at $2,711,000 after purchasing an additional 187 shares in the last quarter. Waterfront Wealth Inc. bought a new stake in Eli Lilly and Company during the 1st quarter valued at $211,000. Hobbs Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 0.8% in the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after buying an additional 12 shares during the period. Finally, Mmbg Investment Advisors CO. grew its position in shares of Eli Lilly and Company by 93.9% during the 1st quarter. Mmbg Investment Advisors CO. now owns 3,034 shares of the company's stock worth $2,506,000 after buying an additional 1,469 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. 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, June 20th. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Down 0.0%

Shares of LLY traded down $0.36 during mid-day trading on Wednesday, hitting $775.54. 558,422 shares of the company traded hands, compared to its average volume of 3,669,574. The company has a market capitalization of $735.01 billion, a PE ratio of 63.10, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business has a 50 day moving average of $778.38 and a 200 day moving average of $799.85. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year 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 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 company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's payout ratio 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.