Eli Lilly and Company (NYSE:LLY) Shares Acquired by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 660 shares of the company’s stock after purchasing an additional 116 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Eli Lilly and Company were worth $510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC increased its stake in Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Norges Bank bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $8,407,908,000. Finally, Capital Research Global Investors boosted its stake in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,002.80.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Shares of LLY opened at $776.94 on Thursday. The firm’s 50-day simple moving average is $818.04 and its 200 day simple moving average is $813.77. The firm has a market cap of $736.33 billion, a P/E ratio of 66.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

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 analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.