Forum Financial Management LP Raises Position in Eli Lilly and Company (NYSE:LLY)

Forum Financial Management LP lifted its stake in Eli Lilly and Company (NYSE:LLY) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,615 shares of the company’s stock after buying an additional 265 shares during the period. Forum Financial Management LP’s holdings in Eli Lilly and Company were worth $6,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Grassi Investment Management raised its position in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Grassi Investment Management now owns 79,512 shares of the company’s stock valued at $61,383,000 after purchasing an additional 225 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $262,000. Capital & Planning LLC raised its position in shares of Eli Lilly and Company by 15.6% in the 4th quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after purchasing an additional 65 shares in the last quarter. Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Finally, Enclave Advisors LLC raised its position in shares of Eli Lilly and Company by 7.9% during the 4th quarter. Enclave Advisors LLC now owns 410 shares of the company’s stock valued at $317,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reissued a “buy” 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 report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target on the stock. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,011.37.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.2%

Shares of Eli Lilly and Company stock opened at $713.99 on Friday. The stock has a 50-day moving average price of $789.29 and a 200 day moving average price of $803.00. The company has a market cap of $676.67 billion, a P/E ratio of 60.97, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

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.