Harmony Asset Management LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Harmony Asset Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 17.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,806 shares of the company’s stock after buying an additional 1,033 shares during the quarter. Eli Lilly and Company comprises 2.1% of Harmony Asset Management LLC’s holdings, making the stock its 9th biggest position. Harmony Asset Management LLC’s holdings in Eli Lilly and Company were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC raised its holdings in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in 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 in the last quarter. Capital International Investors raised its holdings in shares of Eli Lilly and Company by 23.2% in 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $724.28 on Thursday. The company’s 50 day moving average price is $793.65 and its 200 day moving average price is $804.27. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a market capitalization of $686.43 billion, a PE ratio of 61.85, a PEG ratio of 1.40 and a beta of 0.48. 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 announced its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The business’s revenue for the quarter was up 45.2% on a year-over-year basis. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group dropped their target price on shares of 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. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup dropped their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.