Cumberland Partners Ltd Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Cumberland Partners Ltd raised its position in Eli Lilly and Company (NYSE:LLY) by 51.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,229 shares of the company’s stock after buying an additional 11,956 shares during the quarter. Eli Lilly and Company makes up approximately 2.2% of Cumberland Partners Ltd’s portfolio, making the stock its 17th biggest position. Cumberland Partners Ltd’s holdings in Eli Lilly and Company were worth $29,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WestEnd Advisors LLC lifted its stake in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department lifted its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.9%

Eli Lilly and Company stock opened at $761.47 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market capitalization of $721.67 billion, a price-to-earnings ratio of 61.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The stock’s fifty day moving average is $775.51 and its two-hundred day moving average is $799.86.

Eli Lilly and Company (NYSE:LLY) last posted its 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 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% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LLY. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their target price for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, 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 report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.