Northeast Investment Management Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Northeast Investment Management lifted its stake in Eli Lilly and Company (NYSE:LLY) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,461 shares of the company’s stock after purchasing an additional 1,983 shares during the quarter. Eli Lilly and Company comprises about 2.1% of Northeast Investment Management’s portfolio, making the stock its 12th largest holding. Northeast Investment Management’s holdings in Eli Lilly and Company were worth $45,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. FWG Holdings LLC grew its holdings in shares of Eli Lilly and Company by 0.6% during 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 during the last quarter. Morling Financial Advisors LLC lifted its position in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC grew its stake in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp increased its holdings in shares of 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 during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. 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 report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Up 4.4%

Shares of LLY opened at $807.75 on Wednesday. The firm 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. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock’s 50 day moving average is $770.33 and its two-hundred day moving average is $800.86. 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 (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. The company’s quarterly revenue was up 45.2% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company 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 owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate 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.