Close Asset Management Ltd Increases Position in Eli Lilly and Company (NYSE:LLY)

Close Asset Management Ltd increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 42.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,966 shares of the company’s stock after buying an additional 17,586 shares during the quarter. Eli Lilly and Company accounts for about 1.4% of Close Asset Management Ltd’s portfolio, making the stock its 23rd largest position. Close Asset Management Ltd’s holdings in Eli Lilly and Company were worth $48,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WestEnd Advisors LLC raised its holdings in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department raised its holdings in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the 1st quarter worth about $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $48,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $776.47 on Wednesday. The firm has a market capitalization of $735.89 billion, a P/E ratio of 63.18, a P/E/G ratio of 1.10 and a beta of 0.40. The company’s fifty day moving average price is $767.03 and its two-hundred day moving average price is $800.17. 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 has a 12 month low of $677.09 and a 12 month high of $972.53.

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

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LLY. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,012.56.

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.