Eli Lilly and Company (NYSE:LLY) Shares Purchased by Spire Wealth Management

Spire Wealth Management boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,795 shares of the company’s stock after buying an additional 848 shares during the quarter. Eli Lilly and Company accounts for about 0.9% of Spire Wealth Management’s investment portfolio, making the stock its 16th largest position. Spire Wealth Management’s holdings in Eli Lilly and Company were worth $27,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC grew its position in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after buying an additional 291,875 shares during the last quarter. GAMMA Investing LLC grew its position in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its position in Eli Lilly and Company by 19.0% in the fourth 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, Norges Bank acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $8,407,908,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.8%

LLY stock opened at $792.41 on Thursday. 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 has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a fifty day simple moving average of $782.41 and a 200 day simple moving average of $800.16. The firm has a market cap of $751.00 billion, a PE ratio of 64.48, a PEG ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last released 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). 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 period in the previous year, the firm posted $2.58 EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research note on Friday, June 20th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Finally, Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and 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.