Massachusetts Wealth Management Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Massachusetts Wealth Management boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,605 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Eli Lilly and Company accounts for 1.5% of Massachusetts Wealth Management’s portfolio, making the stock its 27th biggest holding. Massachusetts Wealth Management’s holdings in Eli Lilly and Company were worth $2,151,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LLY. FPC Investment Advisory Inc. raised its position in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company during the 4th quarter valued at $48,000. Capital A Wealth Management LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at $63,000. Finally, Bellwether Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.8%

Shares of NYSE:LLY opened at $818.56 on Friday. The business’s 50-day moving average is $775.43 and its 200 day moving average is $801.59. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm has a market capitalization of $775.78 billion, a P/E ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The company’s quarterly revenue was up 45.2% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. 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. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, UBS Group reduced their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.