Eli Lilly and Company (NYSE:LLY) Shares Acquired by Palisade Asset Management LLC

Palisade Asset Management LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,709 shares of the company’s stock after acquiring an additional 229 shares during the period. Eli Lilly and Company makes up 1.5% of Palisade Asset Management LLC’s holdings, making the stock its 21st biggest holding. Palisade Asset Management LLC’s holdings in Eli Lilly and Company were worth $13,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in LLY. JB Capital LLC grew its holdings in shares of Eli Lilly and Company by 12.8% in the third quarter. JB Capital LLC now owns 935 shares of the company’s stock valued at $502,000 after purchasing an additional 106 shares in the last quarter. WealthShield Partners LLC grew its holdings in shares of Eli Lilly and Company by 134.6% in the third quarter. WealthShield Partners LLC now owns 2,067 shares of the company’s stock valued at $1,110,000 after purchasing an additional 1,186 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Eli Lilly and Company by 27.1% in the third quarter. Verdence Capital Advisors LLC now owns 7,266 shares of the company’s stock valued at $3,903,000 after purchasing an additional 1,551 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $384,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Eli Lilly and Company by 5.0% in the third quarter. Mackenzie Financial Corp now owns 339,719 shares of the company’s stock valued at $178,417,000 after purchasing an additional 16,045 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

LLY stock traded down $2.77 on Wednesday, hitting $775.00. The company’s stock had a trading volume of 2,001,864 shares, compared to its average volume of 3,069,327. The firm has a 50 day moving average of $761.22 and a two-hundred day moving average of $674.88. Eli Lilly and Company has a 1 year low of $419.80 and a 1 year high of $800.78. The stock has a market cap of $736.56 billion, a price-to-earnings ratio of 114.24, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 13.82 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 Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LLY. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Barclays lifted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Citigroup lifted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

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.