Wealthedge Investment Advisors LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Wealthedge Investment Advisors LLC purchased a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,082 shares of the company's stock, valued at approximately $2,379,000. Eli Lilly and Company makes up approximately 1.1% of Wealthedge Investment Advisors LLC's portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Campbell Deegan Wealth Management LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $222,000. Lighthouse Financial LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $3,351,000. Alpha Wealth Funds LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $477,000. IronOak Wealth LLC. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $1,308,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $480,000. Institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on LLY shares. UBS Group lowered their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $1.52 during mid-day trading on Thursday, hitting $720.91. The company had a trading volume of 2,785,058 shares, compared to its average volume of 3,626,567. The company has a market capitalization of $683.24 billion, a price-to-earnings ratio of 61.56, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock's 50-day moving average price is $782.03 and its 200-day moving average price is $801.29.

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 company had revenue of $12.73 billion during 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 revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.