Moran Wealth Management LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Moran Wealth Management LLC grew its position in Eli Lilly and Company (NYSE:LLY) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,453 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Moran Wealth Management LLC’s holdings in Eli Lilly and Company were worth $7,807,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LLY. GAMMA Investing LLC lifted its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Norges Bank purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP boosted its position in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Capital International Investors boosted its position in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $792.41 on Thursday. The firm has a fifty day moving average of $782.41 and a two-hundred day moving average of $800.16. The firm has a market cap of $751.00 billion, a P/E ratio of 64.48, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share 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. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s payout ratio is 48.82%.

Analysts Set New Price Targets

A number of research analysts have commented on LLY shares. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. UBS Group dropped their target price on 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. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,011.61.

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.