Notis McConarty Edward Buys Shares of 288 Eli Lilly and Company (NYSE:LLY)

Notis McConarty Edward bought a new stake in Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 288 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. GAMMA Investing LLC grew its stake in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 19.0% in the fourth 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 in the last quarter. Capital International Investors boosted its holdings in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock worth $8,304,811,000 after acquiring an additional 1,493,673 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

Shares of Eli Lilly and Company stock opened at $776.47 on Wednesday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The business’s fifty day simple moving average is $767.03 and its 200-day simple moving average is $800.17. The firm has a market cap of $735.89 billion, a PE ratio of 63.18, a price-to-earnings-growth ratio of 1.10 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company posted $2.58 EPS. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid 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 payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. UBS Group decreased their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Guggenheim lifted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,012.56.

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.