Palumbo Wealth Management LLC Buys Shares of 497 Eli Lilly and Company (NYSE:LLY)

Palumbo Wealth Management LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 497 shares of the company’s stock, valued at approximately $411,000.

A number of other institutional investors also recently made changes to their positions in the stock. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% during 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. Brighton Jones LLC lifted its holdings in shares of Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after buying an additional 1,730 shares during the period. Revolve Wealth Partners LLC boosted its stake in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after buying an additional 40 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Eli Lilly and Company by 7.1% during the fourth quarter. SOA Wealth Advisors LLC. now owns 925 shares of the company’s stock worth $714,000 after acquiring an additional 61 shares during the period. Finally, Orion Capital Management LLC grew its holdings in Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock worth $1,243,000 after acquiring an additional 40 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of LLY opened at $770.16 on Tuesday. The business’s 50-day moving average is $780.81 and its 200-day moving average is $800.36. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company has a market capitalization of $729.91 billion, a price-to-earnings ratio of 62.67, a P/E/G ratio of 1.11 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 48.82%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LLY shares. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim restated a “buy” rating and set a $936.00 target price on shares of Eli Lilly and Company in a report on Friday. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,011.79.

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.