Means Investment CO. Inc. Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Means Investment CO. Inc. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 49.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,827 shares of the company’s stock after acquiring an additional 1,606 shares during the period. Means Investment CO. Inc.’s holdings in Eli Lilly and Company were worth $3,986,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LLY. GAMMA Investing LLC grew its position in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC grew its position in shares of Eli Lilly and Company by 100,387.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. 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 on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, 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 report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Eli Lilly and Company Stock Down 0.9%

LLY stock opened at $784.28 on Friday. The firm has a market cap of $743.29 billion, a PE ratio of 63.81, a PEG ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm’s 50 day moving average price is $779.84 and its 200-day moving average price is $801.47. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

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 the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company’s payout ratio is presently 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.