Secure Asset Management LLC Has $3.23 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Secure Asset Management LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.2% during the first quarter, HoldingsChannel reports. The fund owned 3,907 shares of the company’s stock after acquiring an additional 262 shares during the quarter. Secure Asset Management LLC’s holdings in Eli Lilly and Company were worth $3,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after acquiring an additional 475,530 shares during the period. Geode Capital Management LLC lifted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC boosted its stake in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.5%

Shares of LLY opened at $750.94 on Wednesday. The business’s fifty day moving average price is $773.82 and its two-hundred day moving average price is $799.64. The firm has a market capitalization of $711.69 billion, a price-to-earnings ratio of 64.13, a PEG ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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 the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 EPS. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. UBS Group lowered their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald assumed coverage on 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. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company 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 value of $818,240.00. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

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.