Rockland Trust Co. Acquires 2,089 Shares of Eli Lilly and Company (NYSE:LLY)

Rockland Trust Co. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 17.9% during the first quarter, HoldingsChannel.com reports. The fund owned 13,760 shares of the company’s stock after buying an additional 2,089 shares during the quarter. Rockland Trust Co.’s holdings in Eli Lilly and Company were worth $11,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Compagnie Lombard Odier SCmA lifted its holdings in Eli Lilly and Company by 73.0% during the first quarter. Compagnie Lombard Odier SCmA now owns 220,861 shares of the company’s stock worth $182,411,000 after acquiring an additional 93,212 shares during the period. Union Bancaire Privee UBP SA raised its stake in shares of Eli Lilly and Company by 17.2% in the first quarter. Union Bancaire Privee UBP SA now owns 78,206 shares of the company’s stock valued at $61,937,000 after buying an additional 11,484 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Eli Lilly and Company by 13.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,533 shares of the company’s stock valued at $2,092,000 after buying an additional 307 shares during the period. Mogy Joel R Investment Counsel Inc. raised its stake in shares of Eli Lilly and Company by 11.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 39,001 shares of the company’s stock valued at $32,211,000 after buying an additional 3,993 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of Eli Lilly and Company by 1.7% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 5,336 shares of the company’s stock valued at $4,407,000 after buying an additional 88 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $811.62 on Friday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The business has a 50-day simple moving average of $773.53 and a 200 day simple moving average of $801.30. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market cap of $769.20 billion, a price-to-earnings ratio of 69.31, a PEG ratio of 1.40 and a beta of 0.41.

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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Eli Lilly and Company’s quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal 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. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LLY shares. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Eli Lilly and Company Company Profile

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.