Barlow Wealth Partners Inc. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Barlow Wealth Partners Inc. purchased a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,031 shares of the company's stock, valued at approximately $1,184,000.

Several other hedge funds also recently added to or reduced their stakes in the business. JB Capital LLC boosted its position in shares of Eli Lilly and Company by 12.8% during the 3rd quarter. JB Capital LLC now owns 935 shares of the company's stock worth $502,000 after purchasing an additional 106 shares during the period. WealthShield Partners LLC grew its position in Eli Lilly and Company by 134.6% in the 3rd quarter. WealthShield Partners LLC now owns 2,067 shares of the company's stock valued at $1,110,000 after acquiring an additional 1,186 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Eli Lilly and Company by 27.1% during the third quarter. Verdence Capital Advisors LLC now owns 7,266 shares of the company's stock worth $3,903,000 after purchasing an additional 1,551 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $384,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Eli Lilly and Company by 5.0% in the third quarter. Mackenzie Financial Corp now owns 339,719 shares of the company's stock valued at $178,417,000 after purchasing an additional 16,045 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Morgan Stanley increased their price target on Eli Lilly and Company from $805.00 to $950.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an "overweight" rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 1st. TheStreet upgraded Eli Lilly and Company from a "c+" rating to a "b" rating in a research note on Friday, March 8th. Finally, Erste Group Bank raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $757.95.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $2.77 during mid-day trading on Wednesday, hitting $775.00. 2,010,705 shares of the company's stock traded hands, compared to its average volume of 3,076,480. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market cap of $736.56 billion, a PE ratio of 114.14, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The firm's 50 day simple moving average is $761.22 and its 200 day simple moving average is $674.88. Eli Lilly and Company has a 1 year low of $419.80 and a 1 year high of $800.78.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company's quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. Sell-side analysts expect that Eli Lilly and Company will post 13.82 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company's dividend payout ratio is presently 76.58%.

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.

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