W.G. Shaheen & Associates DBA Whitney & Co Takes Position in Eli Lilly and Company (NYSE:LLY)

W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,718 shares of the company’s stock, valued at approximately $7,200,000.

A number of other hedge funds have also made changes to their positions in LLY. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company during the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of several research reports. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Guggenheim lifted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research note on Friday, July 11th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. Finally, Wall Street Zen lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,012.56.

Eli Lilly and Company Price Performance

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

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 EPS. The company’s revenue was up 45.2% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s payout ratio is presently 48.82%.

Eli Lilly and 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.