Eli Lilly and Company (NYSE:LLY) Shares Purchased by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its position in Eli Lilly and Company (NYSE:LLY) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,465 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Spirit of America Management Corp NY’s holdings in Eli Lilly and Company were worth $2,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC raised its position in 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. LS Investment Advisors LLC raised its position in Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after purchasing an additional 40 shares during the period. CSM Advisors LLC raised its position in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after purchasing an additional 245 shares during the period. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after purchasing an additional 1,562 shares during the period. Finally, Bfsg LLC raised its position in Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company’s stock valued at $2,444,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,011.79.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $763.43 on Friday. The stock’s 50-day moving average is $780.48 and its two-hundred day moving average is $801.13. The firm has a market cap of $723.53 billion, a price-to-earnings ratio of 62.12, a PEG ratio of 1.15 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 company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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). 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 return on equity of 85.51% and a net margin of 22.67%. The business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. 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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s payout ratio is 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.