NorthCrest Asset Manangement LLC Buys 1,541 Shares of Eli Lilly and Company (NYSE:LLY)

NorthCrest Asset Manangement LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 8.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 19,667 shares of the company’s stock after purchasing an additional 1,541 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Eli Lilly and Company were worth $16,243,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after acquiring an additional 475,530 shares during the last quarter. Geode Capital Management LLC grew its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the last quarter. GAMMA Investing LLC grew its holdings in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Finally, Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter worth $8,407,908,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $811.62 on Friday. The firm has a 50 day moving average of $773.53 and a 200 day moving average of $801.30. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $769.20 billion, a price-to-earnings ratio of 69.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 net margin of 23.51% and a return on equity of 85.24%. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. 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 on the stock. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target 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.