Stonehearth Capital Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Stonehearth Capital Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 250 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth $43,000. FPC Investment Advisory Inc. raised its stake in shares of 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 during the period. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth about $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company in the 4th quarter worth about $50,000. Finally, Fiduciary Advisors Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth about $58,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $718.59 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $782.03 and its 200 day simple moving average is $801.29. The firm has a market cap of $681.03 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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 return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. As a group, analysts predict 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. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. 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%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LLY shares. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. UBS Group lowered 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 research note on Friday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Finally, Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by insiders.

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.