Pines Wealth Management LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Pines Wealth Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,079 shares of the company’s stock after purchasing an additional 530 shares during the period. Eli Lilly and Company makes up 1.4% of Pines Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Pines Wealth Management LLC’s holdings in Eli Lilly and Company were worth $3,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elevate Capital Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $262,000. Capital & Planning LLC raised its stake in shares of Eli Lilly and Company by 15.6% in the 4th quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after acquiring an additional 65 shares during the period. Garner Asset Management Corp raised its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares during the period. Brighton Jones LLC lifted its holdings in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $49,534,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $770.00 on Friday. The company has a market cap of $729.76 billion, a P/E ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The firm has a fifty day moving average price of $770.87 and a 200 day moving average price of $799.95. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The company’s revenue was up 45.2% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is presently 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 transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.