Zurcher Kantonalbank Zurich Cantonalbank Acquires 26,448 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Eli Lilly and Company by 5.1%, acquiring an additional 26,448 shares, bringing their total holdings to 541,868 shares, valued at approximately $447.5 million.
• Shares of Eli Lilly opened at $811.73 and experienced a 0.8% increase, with the company recently reporting earnings that missed analysts' projections.
• The company declared a quarterly dividend of $1.50 per share, with an annualized dividend yield of 0.74%, reflecting a payout ratio of 48.82%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 541,868 shares of the company's stock after buying an additional 26,448 shares during the period. Eli Lilly and Company comprises 1.3% of Zurcher Kantonalbank Zurich Cantonalbank's holdings, making the stock its 11th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Eli Lilly and Company worth $447,534,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. WestEnd Advisors LLC raised its position in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department grew its position in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $40,000. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC grew its position in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.3%

LLY traded up $2.60 during midday trading on Wednesday, reaching $765.55. The company's stock had a trading volume of 1,929,518 shares, compared to its average volume of 3,770,230. The stock's 50-day moving average is $773.36 and its 200-day moving average is $800.41. The firm has a market capitalization of $725.53 billion, a price-to-earnings ratio of 62.32, a PEG ratio of 1.15 and a beta of 0.40. 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 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for 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 firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter last year, the company earned $2.58 EPS. As a group, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. UBS Group lowered their target price on shares of 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities 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 company's stock. According to MarketBeat.com, Eli Lilly and Company has a consensus 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.