Petredis Investment Advisors LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Petredis Investment Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,362 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Eli Lilly and Company makes up approximately 1.0% of Petredis Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Petredis Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $9,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in LLY. FWG Holdings LLC grew its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its stake in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after buying an additional 12 shares during the period. Finally, Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on LLY. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of 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. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.5%

Eli Lilly and Company stock opened at $773.59 on Tuesday. The stock has a 50-day moving average price of $769.95 and a 200 day moving average price of $800.81. The company has a market capitalization of $733.16 billion, a price-to-earnings ratio of 66.06, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion for 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 was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and 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.