Palumbo Wealth Management LLC Invests $411,000 in Eli Lilly and Company (NYSE:LLY)

Palumbo Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 497 shares of the company’s stock, valued at approximately $411,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after acquiring an additional 475,530 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP boosted its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Guggenheim restated a “buy” rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research note on Friday. UBS Group dropped their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. 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 company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,011.79.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $770.16 on Tuesday. The firm has a market capitalization of $729.91 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 1.11 and a beta of 0.41. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The business has a fifty day simple moving average of $780.81 and a 200 day simple moving average of $800.36. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. Sell-side 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 will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company’s payout ratio is 48.82%.

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.