Wedge Capital Management L L P NC Buys 90 Shares of Eli Lilly and Company (NYSE:LLY)

Wedge Capital Management L L P NC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 13.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the company’s stock after acquiring an additional 90 shares during the period. Wedge Capital Management L L P NC’s holdings in Eli Lilly and Company were worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. FPC Investment Advisory Inc. increased its holdings in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $48,000. Capital A Wealth Management LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth approximately $63,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $66,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

LLY opened at $807.97 on Thursday. The company’s 50 day moving average is $771.74 and its 200 day moving average is $800.91. The company has a market cap of $765.74 billion, a price-to-earnings ratio of 69.00, a PEG ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) 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 business 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 posted $2.58 EPS. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LLY shares. UBS Group dropped their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Finally, Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. 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, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.37.

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.