Precedent Wealth Partners LLC Purchases Shares of 255 Eli Lilly and Company (NYSE:LLY)

Precedent Wealth Partners LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 255 shares of the company’s stock, valued at approximately $211,000.

Other large investors have also added to or reduced their stakes in the company. Garner Asset Management Corp increased its holdings in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares during the last quarter. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC increased its holdings in shares of 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 last quarter. Prestige Wealth Management Group LLC increased its holdings in shares of 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 valued at $468,000 after acquiring an additional 12 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $818.56 on Monday. The business has a 50 day moving average price of $775.43 and a 200 day moving average price of $801.69. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a market cap of $775.78 billion, a price-to-earnings ratio of 69.90, a PEG ratio of 1.40 and a beta of 0.40. 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 earnings results on Thursday, May 1st. The company reported $3.34 earnings per share 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 business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analysts Set New Price Targets

A number of research analysts recently commented on LLY shares. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group lowered their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.