Stordahl Capital Management Inc. Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Stordahl Capital Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.3% in the 1st quarter, Holdings Channel reports. The fund owned 372 shares of the company’s stock after acquiring an additional 22 shares during the quarter. Stordahl Capital Management Inc.’s holdings in Eli Lilly and Company were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. WestEnd Advisors LLC grew its holdings in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department grew 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 acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $48,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.3%

NYSE:LLY traded up $10.28 during mid-day trading on Friday, hitting $771.78. The company had a trading volume of 3,351,657 shares, compared to its average volume of 3,664,913. The business has a fifty day simple moving average of $767.03 and a 200-day simple moving average of $799.83. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm has a market capitalization of $731.45 billion, a price-to-earnings ratio of 62.80, a PEG ratio of 1.11 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LLY shares. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.