Suncoast Equity Management Has $35.84 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Suncoast Equity Management lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 43,399 shares of the company’s stock after buying an additional 1,620 shares during the period. Eli Lilly and Company makes up 4.1% of Suncoast Equity Management’s investment portfolio, making the stock its 12th biggest position. Suncoast Equity Management’s holdings in Eli Lilly and Company were worth $35,844,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $43,000. FPC Investment Advisory Inc. grew 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 worth $45,000 after purchasing an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $48,000. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 53.3% during the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company’s stock worth $57,000 after purchasing an additional 24 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $63,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $763.43 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $723.53 billion, a PE ratio of 62.12, a P/E/G ratio of 1.11 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock has a 50-day moving average price of $780.48 and a two-hundred day moving average price of $800.93.

Eli Lilly and Company (NYSE:LLY) last posted its 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 23.48 EPS 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. Stockholders of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LLY. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.