Wealth Enhancement Advisory Services LLC Acquires 15,393 Shares of Eli Lilly and Company (NYSE:LLY)

Wealth Enhancement Advisory Services LLC lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,865 shares of the company's stock after acquiring an additional 15,393 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Eli Lilly and Company were worth $125,425,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LLY. FWG Holdings LLC lifted its position in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after purchasing an additional 12 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp boosted its position 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 valued at $411,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.9%

LLY opened at $784.28 on Thursday. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The firm has a market capitalization of $743.29 billion, a price-to-earnings ratio of 63.81, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. 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 company's 50 day simple moving average is $778.55 and its two-hundred day simple moving average is $801.58.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company's revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $1.50 per share. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LLY. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,011.37.

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.

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