Consolidated Capital Management LLC Buys New Stake in Eli Lilly and Company (NYSE:LLY)

Consolidated Capital Management LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) during the 1st quarter, HoldingsChannel reports. The fund bought 7,674 shares of the company’s stock, valued at approximately $6,338,000. Eli Lilly and Company comprises 2.6% of Consolidated Capital Management LLC’s portfolio, making the stock its 14th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC grew its holdings 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 acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department grew its holdings 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 acquiring an additional 27 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth $48,000. Finally, O Brien Wealth Partners LLC grew its holdings 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 acquiring an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $772.82 on Tuesday. The stock’s fifty day moving average is $771.52 and its 200-day moving average is $800.30. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market capitalization of $732.43 billion, a PE ratio of 62.88, a PEG ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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). The firm had revenue of $12.73 billion during 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%. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 EPS. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS 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. Investors of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. 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. Wall Street Zen cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. UBS Group decreased their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,011.61.

About Eli Lilly and Company

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.