Balanced Wealth Group LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Balanced Wealth Group LLC bought a new position in Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 778 shares of the company’s stock, valued at approximately $454,000.

A number of other institutional investors have also modified their holdings of LLY. JB Capital LLC grew its stake in shares of Eli Lilly and Company by 12.8% during the third quarter. JB Capital LLC now owns 935 shares of the company’s stock worth $502,000 after acquiring an additional 106 shares during the last quarter. WealthShield Partners LLC lifted its holdings in shares of Eli Lilly and Company by 134.6% during the third quarter. WealthShield Partners LLC now owns 2,067 shares of the company’s stock worth $1,110,000 after purchasing an additional 1,186 shares during the period. Verdence Capital Advisors LLC boosted its position in 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 buying an additional 1,551 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Eli Lilly and Company in the 3rd quarter worth approximately $384,000. Finally, Mackenzie Financial Corp raised its position in Eli Lilly and Company by 5.0% during the 3rd quarter. Mackenzie Financial Corp now owns 339,719 shares of the company’s stock worth $178,417,000 after buying an additional 16,045 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.4 %

LLY traded down $2.77 during mid-day trading on Wednesday, reaching $775.00. The stock had a trading volume of 2,021,056 shares, compared to its average volume of 3,076,476. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. The stock has a market capitalization of $736.56 billion, a P/E ratio of 114.14, a P/E/G ratio of 1.45 and a beta of 0.37. The firm’s fifty day simple moving average is $761.22 and its two-hundred day simple moving average is $674.88.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the business posted $1.62 earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities analysts predict that Eli Lilly and Company will post 13.82 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $757.95.

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.