Petredis Investment Advisors LLC Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Petredis Investment Advisors LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,362 shares of the company’s stock after purchasing an additional 139 shares during the period. Eli Lilly and Company comprises about 1.0% of Petredis Investment Advisors LLC’s portfolio, making the stock its 23rd largest holding. Petredis Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $9,384,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FWG Holdings LLC increased its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC grew its stake in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its holdings in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after acquiring an additional 12 shares in the last quarter. Applied Finance Capital Management LLC raised its position in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock worth $660,000 after acquiring an additional 12 shares during the period. Finally, Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LLY. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on 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 cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. 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 stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Up 0.5%

Shares of NYSE LLY opened at $773.59 on Tuesday. The company 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 has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a 50 day simple moving average of $769.95 and a 200-day simple moving average of $800.81. 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 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). 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 last year, the business earned $2.58 EPS. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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 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 yield of 0.78%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Insiders Place Their Bets

In related 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 transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company 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.