Investment Advisory Group LLC Buys 79 Shares of Eli Lilly and Company (NYSE:LLY)

Investment Advisory Group LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 846 shares of the company’s stock after purchasing an additional 79 shares during the quarter. Investment Advisory Group LLC’s holdings in Eli Lilly and Company were worth $698,000 as of its most recent SEC filing.

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

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $770.00 on Monday. The company has a market cap of $729.76 billion, a PE ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40. The business has a 50-day simple moving average of $770.87 and a 200-day simple moving average of $800.63. Eli Lilly and Company has a one year low of $677.09 and a one year 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 announced 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 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 business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the company earned $2.58 earnings per share. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction 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. The trade was a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by 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.