Eli Lilly and Company (NYSE:LLY) Shares Acquired by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lifted its stake in Eli Lilly and Company (NYSE:LLY) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612 shares of the company’s stock after purchasing an additional 140 shares during the period. Sovereign Financial Group Inc.’s holdings in Eli Lilly and Company were worth $357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Buckhead Capital Management LLC boosted its stake in Eli Lilly and Company by 0.7% during the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after buying an additional 15 shares in the last quarter. Levin Capital Strategies L.P. increased its stake in Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after acquiring an additional 15 shares during the period. JGP Wealth Management LLC increased its stake in Eli Lilly and Company by 0.9% in the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock valued at $1,074,000 after acquiring an additional 16 shares during the period. Valley Wealth Managers Inc. raised its position in Eli Lilly and Company by 1.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock worth $688,000 after purchasing an additional 17 shares in the last quarter. Finally, Sandy Cove Advisors LLC lifted its stake in Eli Lilly and Company by 0.8% during the fourth quarter. Sandy Cove Advisors LLC now owns 2,241 shares of the company’s stock worth $1,307,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.4 %

Eli Lilly and Company stock traded up $11.09 during midday trading on Tuesday, hitting $777.77. 2,842,407 shares of the stock were exchanged, compared to its average volume of 3,088,457. The stock has a market capitalization of $739.20 billion, a PE ratio of 114.55, a P/E/G ratio of 1.45 and a beta of 0.37. The company has a fifty day simple moving average of $761.22 and a two-hundred day simple moving average of $674.88. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 13.82 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 Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup increased their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday, April 30th. Bank of America increased their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Morgan Stanley boosted their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

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.