Kimelman & Baird LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Kimelman & Baird LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,723 shares of the company’s stock after purchasing an additional 161 shares during the quarter. Eli Lilly and Company makes up about 3.1% of Kimelman & Baird LLC’s investment portfolio, making the stock its 14th largest holding. Kimelman & Baird LLC’s holdings in Eli Lilly and Company were worth $36,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Knightsbridge Asset Management LLC raised its stake in Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after buying an additional 15 shares during the last quarter. LS Investment Advisors LLC raised its stake in Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. Prism Advisors Inc. purchased a new position in Eli Lilly and Company during the first quarter valued at $207,000. CSM Advisors LLC raised its stake in Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after buying an additional 245 shares during the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of Eli Lilly and Company by 14.4% in the 1st quarter. Hemington Wealth Management now owns 985 shares of the company’s stock worth $813,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $685.27 on Friday. The firm has a market cap of $648.58 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The business has a 50-day moving average price of $765.92 and a 200-day moving average price of $795.40. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the business earned $3.92 earnings per share. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company’s dividend payout ratio is 39.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, Director J Erik Fyrwald acquired 1,565 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the transaction, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the acquisition, the director owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Morgan Stanley reissued an “overweight” rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $964.88.

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.