Granite Bay Wealth Management LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Granite Bay Wealth Management LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364 shares of the company’s stock after purchasing an additional 24 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Eli Lilly and Company were worth $301,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $750.94 on Wednesday. The company has a market capitalization of $711.69 billion, a P/E ratio of 64.13, a P/E/G ratio of 1.40 and a beta of 0.48. The business’s 50 day moving average is $773.82 and its two-hundred day moving average is $799.64. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. 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 issued its quarterly 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 business had revenue of $12.73 billion for 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 business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LLY. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, UBS Group reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

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.