Investment Partners Asset Management Inc. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Investment Partners Asset Management Inc. bought a new stake in Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 345 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds have also modified their holdings of the company. Knightsbridge Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after purchasing an additional 15 shares during the period. Centerpoint Advisory Group acquired a new position in Eli Lilly and Company in the 4th quarter worth $514,000. LS Investment Advisors LLC boosted its position in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $834,000. Finally, CSM Advisors LLC increased its position in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after acquiring an additional 245 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $807.75 on Wednesday. The company has a market cap of $765.54 billion, a P/E ratio of 68.98, a PEG ratio of 1.40 and a beta of 0.41. The business has a 50 day moving average of $770.33 and a two-hundred day moving average of $800.86. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the firm posted $2.58 EPS. The business’s revenue was up 45.2% compared to the same quarter last year. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on LLY shares. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group upgraded shares of 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 note on Tuesday, April 8th. One equities research 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.