Farther Finance Advisors LLC Has $14.35 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Farther Finance Advisors LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 26.2% in the first quarter, HoldingsChannel reports. The fund owned 17,825 shares of the company’s stock after buying an additional 3,700 shares during the period. Farther Finance Advisors LLC’s holdings in Eli Lilly and Company were worth $14,353,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Elevate Capital Advisors LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $262,000. Capital & Planning LLC raised its holdings in Eli Lilly and Company by 15.6% during the fourth quarter. Capital & Planning LLC now owns 481 shares of the company’s stock worth $371,000 after acquiring an additional 65 shares in the last quarter. Garner Asset Management Corp boosted its holdings 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 buying an additional 12 shares during the last quarter. Brighton Jones LLC raised its position in Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $49,534,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald initiated 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. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Finally, Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. One investment 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. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target 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 transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $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 is available through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.6%

LLY stock opened at $770.00 on Monday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The firm has a market cap of $729.76 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. The business has a 50 day moving average of $770.87 and a 200 day moving average of $800.63. 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 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 for the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the business earned $2.58 EPS. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. On average, research analysts forecast 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 Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s payout ratio is 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.