Zurcher Kantonalbank Zurich Cantonalbank Has $447.53 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% during the first quarter, HoldingsChannel.com reports. The firm owned 541,868 shares of the company’s stock after acquiring an additional 26,448 shares during the quarter. Eli Lilly and Company makes up 1.3% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 11th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eli Lilly and Company were worth $447,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Cornerstone Advisory LLC lifted its position in Eli Lilly and Company by 1.8% during the 1st quarter. Cornerstone Advisory LLC now owns 2,576 shares of the company’s stock valued at $1,997,000 after purchasing an additional 45 shares during the period. Providence Wealth Advisors LLC lifted its position in Eli Lilly and Company by 2.3% during the 1st quarter. Providence Wealth Advisors LLC now owns 12,759 shares of the company’s stock valued at $10,210,000 after purchasing an additional 289 shares during the period. Empirical Finance LLC lifted its position in Eli Lilly and Company by 1.1% during the 1st quarter. Empirical Finance LLC now owns 27,477 shares of the company’s stock valued at $22,694,000 after purchasing an additional 302 shares during the period. Valley Wealth Managers Inc. lifted its position in Eli Lilly and Company by 8.8% during the 1st quarter. Valley Wealth Managers Inc. now owns 2,856 shares of the company’s stock valued at $2,359,000 after purchasing an additional 230 shares during the period. Finally, Allen Investment Management LLC lifted its position in Eli Lilly and Company by 1.4% during the 1st quarter. Allen Investment Management LLC now owns 6,626 shares of the company’s stock valued at $5,472,000 after purchasing an additional 94 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price target for the company 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 seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,012.56.

Eli Lilly and Company Price Performance

Shares of LLY opened at $811.73 on Friday. The stock has a market capitalization of $769.30 billion, a P/E ratio of 66.05, a P/E/G ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a 50 day moving average of $771.95 and a 200-day moving average of $800.51. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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). 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 return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 0.74%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is presently 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.