Ackerman Capital Advisors LLC Buys New Shares in Eli Lilly and Company (NYSE:LLY)

Ackerman Capital Advisors LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 257 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of the stock. WestEnd Advisors LLC raised its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department raised its stake in shares of 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 valued at $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 2.9%

Eli Lilly and Company stock opened at $761.47 on Monday. The company’s 50 day simple moving average is $775.51 and its 200 day simple moving average is $800.52. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market capitalization of $721.68 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. 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 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 firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the business earned $2.58 EPS. The firm’s revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

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

Analyst Ratings Changes

LLY has been the subject of a number of recent analyst reports. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim increased their target price 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. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set 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. Finally, HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,012.56.

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.