Range Financial Group LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Range Financial Group LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,833 shares of the company’s stock after buying an additional 304 shares during the quarter. Eli Lilly and Company accounts for about 1.8% of Range Financial Group LLC’s investment portfolio, making the stock its 5th largest holding. Range Financial Group LLC’s holdings in Eli Lilly and Company were worth $3,991,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing 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. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.6%

NYSE:LLY opened at $770.00 on Monday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company’s 50-day simple moving average is $770.87 and its 200 day simple moving average is $800.63. The firm has a market capitalization of $729.76 billion, a P/E ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued 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 firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. During the same period last year, the firm posted $2.58 earnings per share. As a group, analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. 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 dividend payout ratio (DPR) is presently 48.82%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group cut their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.