Advent Capital Management DE Takes $2.89 Million Position in Eli Lilly and Company (NYSE:LLY)
Advent Capital Management DE has acquired a new stake in Eli Lilly and Company (NYSE: LLY), purchasing 3,500 shares valued at approximately $2.89 million in the first quarter, as reported in their recent 13F filing. Other institutional investors have also increased their holdings in Eli Lilly. The stock is currently down 2.5%, trading at $625.15, with a market cap of $592.48 billion. Eli Lilly recently reported strong quarterly earnings, exceeding analysts' expectations, and declared a quarterly dividend of $1.50 per share.
Advent Capital Management DE purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,500 shares of the company's stock, valued at approximately $2,891,000.
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Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Garner Asset Management Corp boosted its position in shares of Eli Lilly and Company by 2.3% during the fourth 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. Tobias Financial Advisors Inc. boosted its position in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after buying an additional 12 shares during the last quarter. Redwood Investments LLC boosted its position in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after buying an additional 12 shares during the last quarter. Hobbs Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after buying an additional 12 shares during the last quarter. Finally, Hixon Zuercher LLC boosted its position in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.
Eli Lilly and Company Stock Down 2.5%
NYSE LLY opened at $625.15 on Friday. The stock's 50 day moving average is $774.10 and its 200 day moving average is $799.11. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The stock has a market cap of $592.48 billion, a PE ratio of 40.86, a P/E/G ratio of 0.89 and a beta of 0.44.
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Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The company had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the firm earned $3.92 EPS. The firm's revenue was up 37.6% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.
Eli Lilly and Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 1.0%. Eli Lilly and Company's payout ratio is currently 48.82%.
Insider Buying and Selling
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In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Finally, Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $984.41.
Get Our Latest Analysis on Eli Lilly and Company
About Eli Lilly and Company
(Free Report)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.
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