Proathlete Wealth Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Proathlete Wealth Management LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 127 shares of the company’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $43,000. FPC Investment Advisory Inc. boosted its holdings in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 53.3% during the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company’s stock valued at $57,000 after buying an additional 24 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Eli Lilly and Company during the fourth quarter valued at approximately $63,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $763.43 on Friday. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week 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. The firm has a market capitalization of $723.53 billion, a P/E ratio of 62.12, a P/E/G ratio of 1.15 and a beta of 0.40. The stock has a 50 day moving average price of $780.48 and a 200 day moving average price of $801.13.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.79%. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reiterated a “buy” rating and set a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday. Finally, Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. One 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.79.

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.