StoneCrest Wealth Management Inc. Raises Holdings in Eli Lilly and Company (NYSE:LLY)

StoneCrest Wealth Management Inc. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,109 shares of the company’s stock after acquiring an additional 841 shares during the quarter. Eli Lilly and Company makes up about 3.2% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 8th largest position. StoneCrest Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $5,045,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LLY. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the fourth quarter worth $43,000. FPC Investment Advisory Inc. raised its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $50,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $63,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LLY shares. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $770.00 on Friday. The firm has a market capitalization of $729.76 billion, a P/E ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock’s 50-day simple moving average is $770.87 and its two-hundred day simple moving average is $799.95. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm 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 $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.