Benin Management CORP Boosts Position in Eli Lilly and Company (NYSE:LLY)

Benin Management CORP raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 775 shares of the company’s stock after buying an additional 16 shares during the quarter. Benin Management CORP’s holdings in Eli Lilly and Company were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LLY. Elevate Capital Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $262,000. Capital & Planning LLC increased its holdings in Eli Lilly and Company by 15.6% in the fourth quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after buying an additional 65 shares in the last quarter. Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC raised its holdings in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,730 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Eli Lilly and Company in the 4th quarter worth about $49,534,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several research analyst reports. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. UBS Group decreased their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $750.94 on Wednesday. The firm has a market capitalization of $711.69 billion, a PE ratio of 64.13, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s fifty day moving average price is $773.82 and its 200 day moving average price is $799.64. 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 earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company 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 23.51% and a return on equity of 85.24%. 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 firm posted $2.58 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

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.