Sonora Investment Management Group LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Sonora Investment Management Group LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 4.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,050 shares of the company’s stock after purchasing an additional 127 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Eli Lilly and Company were worth $2,519,000 at the end of the most recent reporting period.

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

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s 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 sale, the chief accounting officer now directly 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 the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LLY. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $773.59 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap 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. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The firm has a 50-day moving average of $769.95 and a 200-day moving average of $800.81.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business 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%. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.58 EPS. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. 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 (DPR) is currently 48.82%.

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.