Alhambra Investment Management LLC Purchases 14 Shares of Eli Lilly and Company (NYSE:LLY)

Alhambra Investment Management LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 479 shares of the company’s stock after purchasing an additional 14 shares during the quarter. Alhambra Investment Management LLC’s holdings in Eli Lilly and Company were worth $396,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. FPC Investment Advisory Inc. raised its stake in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth about $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company in the fourth quarter worth about $50,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $63,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LLY. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Eli Lilly and Company Stock Up 4.4%

NYSE:LLY opened at $807.75 on Wednesday. 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. The business’s fifty day moving average price is $770.33 and its 200 day moving average price is $800.86. The firm has a market capitalization of $765.54 billion, a price-to-earnings ratio of 68.98, a PEG ratio of 1.40 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the business earned $2.58 EPS. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.