Balance Wealth LLC Acquires Shares of 339 Eli Lilly and Company (NYSE:LLY)

Balance Wealth LLC acquired a new stake in Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 339 shares of the company’s stock, valued at approximately $280,000.

A number of other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth about $43,000. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company in the fourth quarter worth about $48,000. Highline Wealth Partners LLC raised its stake in Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company’s stock worth $57,000 after buying an additional 24 shares in the last quarter. Capital A Wealth Management LLC bought a new position in Eli Lilly and Company in the fourth quarter worth about $63,000. Finally, Bellwether Advisors LLC bought a new position in Eli Lilly and Company in the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LLY. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. UBS Group decreased 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 research note on Friday, May 2nd. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and Company Trading Up 1.8%

Shares of Eli Lilly and Company stock opened at $792.41 on Thursday. The company’s fifty day simple moving average is $782.41 and its 200-day simple moving average is $800.16. The stock has a market capitalization of $751.00 billion, a PE ratio of 64.48, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY) last issued 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). The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s payout ratio is 48.82%.

Eli Lilly and Company 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.