Wealthfront Advisers LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Wealthfront Advisers LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,269 shares of the company's stock after purchasing an additional 6,616 shares during the period. Wealthfront Advisers LLC's holdings in Eli Lilly and Company were worth $91,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WestEnd Advisors LLC grew its holdings in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department grew its holdings in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,000. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. 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 reiterated an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Up 1.7%

LLY stock traded up $12.99 during midday trading on Friday, hitting $774.49. The company's stock had a trading volume of 2,491,237 shares, compared to its average volume of 3,677,745. The company has a market cap of $734.01 billion, a PE ratio of 63.00, a P/E/G ratio of 1.15 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month 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 firm's 50-day moving average is $766.32 and its 200-day moving average is $799.83.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. 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.