Cerro Pacific Wealth Advisors LLC Has $2.56 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Cerro Pacific Wealth Advisors LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,319 shares of the company’s stock after buying an additional 71 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $2,562,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Knightsbridge Asset Management LLC raised its stake in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock worth $628,000 after buying an additional 15 shares during the period. Centerpoint Advisory Group acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $514,000. Kentucky Trust Co acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $834,000. CSM Advisors LLC raised its stake in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after purchasing an additional 245 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Up 2.2%

Eli Lilly and Company stock opened at $738.33 on Friday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $699.74 billion, a P/E ratio of 63.05, a PEG ratio of 1.40 and a beta of 0.48. The stock has a 50-day simple moving average of $776.85 and a 200 day simple moving average of $799.88.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. Analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

Analyst Ratings Changes

Several research firms have issued reports on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

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.