Eli Lilly and Company (NYSE:LLY) Shares Purchased by City Center Advisors LLC

City Center Advisors LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 46.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 825 shares of the company’s stock after acquiring an additional 260 shares during the period. Eli Lilly and Company comprises 0.8% of City Center Advisors LLC’s holdings, making the stock its 23rd largest position. City Center Advisors LLC’s holdings in Eli Lilly and Company were worth $681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC boosted its position in Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP boosted its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $8,407,908,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LLY shares. UBS Group lowered their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $770.00 on Friday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a market cap of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. 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 business’s 50 day moving average price is $770.87 and its 200 day moving average price is $800.27.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s payout ratio is 48.82%.

Insiders Place Their Bets

In other Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

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.