Envestnet Asset Management Inc. Buys 161,665 Shares of Eli Lilly and Company (NYSE:LLY)

Envestnet Asset Management Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 17.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,112,001 shares of the company’s stock after acquiring an additional 161,665 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Eli Lilly and Company were worth $918,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. WestEnd Advisors LLC raised its stake in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department raised its stake in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after acquiring an additional 27 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $43,000. O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after acquiring an additional 12 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $48,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LLY shares. Wall Street Zen downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Guggenheim reissued a “buy” rating and set a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. UBS Group lowered their target price on shares of 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. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,011.61.

Eli Lilly and Company Trading Up 0.0%

NYSE:LLY opened at $779.60 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm has a 50-day moving average of $773.61 and a 200-day moving average of $800.26. The company has a market cap of $738.85 billion, a PE ratio of 63.43, a PEG ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company’s revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 earnings per share. As a group, 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

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.