Westfield Capital Management Co. LP Buys 38,959 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Westfield Capital Management Co. LP increased its investment in Eli Lilly and Company by 17.7%, holding a total of 258,952 shares worth approximately $213.87 million.
• Eli Lilly reported a quarterly earnings per share of $3.34, which missed analysts' estimates and represented a 45.2% year-over-year revenue increase with $12.73 billion in revenue.
• The company announced a quarterly dividend of $1.50 per share to be paid on September 10th, reflecting an annualized yield of 0.8% and a payout ratio of 48.82%.

Westfield Capital Management Co. LP grew its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 17.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 258,952 shares of the company's stock after acquiring an additional 38,959 shares during the period. Eli Lilly and Company comprises about 1.0% of Westfield Capital Management Co. LP's holdings, making the stock its 17th largest holding. Westfield Capital Management Co. LP's holdings in Eli Lilly and Company were worth $213,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC boosted its position in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department boosted its position in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY stock traded down $5.85 during trading on Tuesday, reaching $763.15. The company's stock had a trading volume of 312,241 shares, compared to its average volume of 3,781,147. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. 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 company has a market capitalization of $723.27 billion, a P/E ratio of 62.05, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. The company's fifty day moving average is $776.59 and its 200-day moving average is $800.81.

Eli Lilly and Company Announces Dividend

The firm 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LLY shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Guggenheim upped their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. 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 company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and 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.