Welch & Forbes LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Welch & Forbes LLC grew its position in Eli Lilly and Company (NYSE:LLY) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,093 shares of the company’s stock after buying an additional 3,340 shares during the period. Eli Lilly and Company accounts for approximately 1.2% of Welch & Forbes LLC’s investment portfolio, making the stock its 25th largest position. Welch & Forbes LLC’s holdings in Eli Lilly and Company were worth $77,583,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LLY. International Assets Investment Management LLC raised its holdings in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $682,139,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $435,736,000. Vanguard Group Inc. raised its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Eli Lilly and Company by 24.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock worth $1,778,362,000 after acquiring an additional 645,473 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 4.3 %

Shares of LLY traded up $31.77 on Monday, hitting $766.74. 3,396,224 shares of the stock traded hands, compared to its average volume of 3,090,840. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $728.72 billion, a P/E ratio of 112.92, a P/E/G ratio of 1.45 and a beta of 0.37. The stock’s 50 day moving average is $760.96 and its two-hundred day moving average is $673.52. Eli Lilly and Company has a 1 year low of $419.80 and a 1 year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.68%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LLY shares. Barclays lifted their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target (up from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday, April 30th. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Truist Financial raised their price objective on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $757.95.

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.