Eli Lilly and Company (NYSE:LLY) Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,488 shares of the company’s stock after buying an additional 70 shares during the quarter. ProVise Management Group LLC’s holdings in Eli Lilly and Company were worth $867,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Lipe & Dalton acquired a new position in Eli Lilly and Company during the fourth quarter valued at $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $29,000. Optiver Holding B.V. purchased a new stake in shares of Eli Lilly and Company in the third quarter worth about $36,000. St. Johns Investment Management Company LLC grew its holdings in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the period. Finally, O Brien Wealth Partners LLC raised its position in Eli Lilly and Company by 70.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 75 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Bank of America raised their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial lifted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Argus upped their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $769.53.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $1.02 during midday trading on Friday, hitting $807.43. The company had a trading volume of 1,778,120 shares, compared to its average volume of 2,894,329. Eli Lilly and Company has a twelve month low of $419.80 and a twelve month high of $820.60. The stock has a market cap of $767.39 billion, a price-to-earnings ratio of 118.91, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The business’s 50-day simple moving average is $765.47 and its 200-day simple moving average is $692.32.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.