Ibex Wealth Advisors Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Ibex Wealth Advisors raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.1% during the first quarter, Holdings Channel reports. The firm owned 12,345 shares of the company’s stock after buying an additional 710 shares during the quarter. Eli Lilly and Company makes up approximately 1.3% of Ibex Wealth Advisors’ portfolio, making the stock its 25th biggest position. Ibex Wealth Advisors’ holdings in Eli Lilly and Company were worth $10,196,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. increased its position in 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. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company during the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $50,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $63,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $773.59 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $733.16 billion, a P/E ratio of 66.06, a P/E/G ratio of 1.40 and a beta of 0.40. The company’s 50-day simple moving average is $769.95 and its two-hundred day simple moving average is $800.81. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, UBS Group reduced 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 report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.