Central Pacific Bank Trust Division Purchases 1,027 Shares of Eli Lilly and Company (NYSE:LLY)

Central Pacific Bank Trust Division boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 15.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,486 shares of the company’s stock after buying an additional 1,027 shares during the period. Eli Lilly and Company makes up approximately 0.9% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 15th biggest position. Central Pacific Bank Trust Division’s holdings in Eli Lilly and Company were worth $6,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth $43,000. FPC Investment Advisory Inc. lifted its stake in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $48,000. Compass Financial Services Inc bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $720.91 on Friday. The business has a 50 day moving average of $779.13 and a 200 day moving average of $800.51. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a market cap of $683.24 billion, a PE ratio of 61.56, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.83%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LLY. UBS Group cut 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 note on Friday, May 2nd. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

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.