Altman Advisors Inc. Buys 1,046 Shares of Eli Lilly and Company (NYSE:LLY)

Altman Advisors Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 155.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,721 shares of the company’s stock after buying an additional 1,046 shares during the quarter. Altman Advisors Inc.’s holdings in Eli Lilly and Company were worth $1,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LLY. GAMMA Investing LLC increased its holdings in shares of 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 valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Wellington Management Group LLP boosted its position in shares of 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 valued at $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Capital International Investors boosted its position in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent research reports. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Morgan Stanley reissued an “overweight” rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Guggenheim upped their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $772.74 on Wednesday. The firm has a 50 day moving average of $765.88 and a 200 day moving average of $799.99. 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 firm has a market capitalization of $732.36 billion, a price-to-earnings ratio of 62.88, a price-to-earnings-growth ratio of 1.16 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.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.