Welch & Forbes LLC Has $122.68 Million Stake in Eli Lilly and Company (NYSE:LLY)

Welch & Forbes LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,535 shares of the company’s stock after acquiring an additional 1,555 shares during the quarter. Eli Lilly and Company accounts for approximately 1.6% of Welch & Forbes LLC’s investment portfolio, making the stock its 15th largest position. Welch & Forbes LLC’s holdings in Eli Lilly and Company were worth $122,677,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. WestEnd Advisors LLC boosted its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department lifted its holdings in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC raised its position in Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $772.74 on Wednesday. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The business’s fifty day simple moving average is $765.88 and its 200-day simple moving average is $799.99. The company has a market capitalization of $732.36 billion, a price-to-earnings ratio of 62.88, a PEG ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the business earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Guggenheim raised their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.56.

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.