241 Shares in Eli Lilly and Company (NYSE:LLY) Bought by Vega Investment Solutions

Vega Investment Solutions purchased a new position in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 241 shares of the company’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $50,000. Fiduciary Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $58,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 1.4%

Shares of NYSE:LLY opened at $714.84 on Friday. The stock has a market capitalization of $677.48 billion, a price-to-earnings ratio of 61.05, a PEG ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock’s 50-day simple moving average is $791.44 and its two-hundred day simple moving average is $803.64. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week 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 firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.84%. Eli Lilly and Company’s payout ratio is 48.82%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LLY shares. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

About Eli Lilly and Company

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.