West Branch Capital LLC lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,735 shares of the company's stock after acquiring an additional 611 shares during the period. Eli Lilly and Company accounts for 1.6% of West Branch Capital LLC's portfolio, making the stock its 19th largest position. West Branch Capital LLC's holdings in Eli Lilly and Company were worth $4,737,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. increased its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares during the period. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company during the fourth quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter worth $48,000. Capital A Wealth Management LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $63,000. Finally, Bellwether Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 82.53% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on LLY shares. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. UBS Group reduced their price target on 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. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,011.37.
Read Our Latest Report on LLY
Eli Lilly and Company Stock Down 1.0%
Shares of NYSE:LLY traded down $8.01 on Monday, reaching $811.35. The company had a trading volume of 1,558,889 shares, compared to its average volume of 3,650,337. The stock has a market capitalization of $768.94 billion, a P/E ratio of 69.35, a P/E/G ratio of 1.40 and a beta of 0.40. The stock has a 50-day moving average price of $775.43 and a 200 day moving average price of $801.69. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.
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 the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities analysts expect 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 was paid on Tuesday, June 10th. Investors 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 0.74%. Eli Lilly and Company's dividend payout ratio is 48.82%.
About Eli Lilly and Company
(
Free Report)
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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