Zions Bancorporation National Association UT Buys Shares of 13,358 Eli Lilly and Company (NYSE:LLY)

Zions Bancorporation National Association UT purchased a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,358 shares of the company's stock, valued at approximately $11,033,000. Eli Lilly and Company accounts for approximately 0.7% of Zions Bancorporation National Association UT's investment portfolio, making the stock its 21st largest holding.

Several other hedge funds have also recently modified their holdings of LLY. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during 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. purchased a new position in Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC increased its position in Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying 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 Trading Down 14.2%

Shares of NYSE:LLY opened at $640.17 on Friday. The firm has a market capitalization of $606.71 billion, a price-to-earnings ratio of 52.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.44. The business's 50 day moving average price is $776.36 and its 200-day moving average price is $799.60. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 1 year low of $633.20 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the business earned $3.92 earnings per share. The company's revenue for the quarter was up 37.6% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LLY. Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Leerink Partners restated a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $999.50.

Eli Lilly and Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.