HBK Sorce Advisory LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

HBK Sorce Advisory LLC increased its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,029 shares of the company’s stock after buying an additional 451 shares during the period. Eli Lilly and Company accounts for about 0.4% of HBK Sorce Advisory LLC’s portfolio, making the stock its 24th biggest position. HBK Sorce Advisory LLC’s holdings in Eli Lilly and Company were worth $14,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $43,000. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $48,000. Highline Wealth Partners LLC raised its position 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 acquiring an additional 24 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. UBS Group cut their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday, June 20th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen 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 $1,011.61.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $792.41 on Thursday. The stock has a market capitalization of $751.00 billion, a P/E ratio of 64.48, a PEG ratio of 1.14 and a beta of 0.40. The business has a 50 day simple moving average of $782.41 and a two-hundred day simple moving average of $800.16. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 earnings per share. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

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.