6,787 Shares in Eli Lilly and Company (NYSE:LLY) Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,787 shares of the company’s stock, valued at approximately $5,605,000.

A number of other large investors also recently added to or reduced their stakes in LLY. GAMMA Investing LLC raised its position in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC raised its position in shares of Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE:LLY opened at $818.56 on Monday. The firm’s 50 day moving average price is $775.43 and its 200 day moving average price is $801.69. The stock has a market cap of $775.78 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two 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 issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate 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 firm 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 firm’s revenue was up 45.2% compared to the same quarter last year. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a dividend of $1.50 per share. The ex-dividend date was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

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.