Cypress Asset Management Inc. TX Invests $12.99 Million in Eli Lilly and Company (NYSE:LLY)

Cypress Asset Management Inc. TX purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,289 shares of the company’s stock, valued at approximately $12,993,000. Eli Lilly and Company makes up 3.9% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Avantax Planning Partners Inc. grew its position in shares of Eli Lilly and Company by 56.8% in the 4th quarter. Avantax Planning Partners Inc. now owns 6,087 shares of the company’s stock valued at $3,548,000 after buying an additional 2,204 shares during the last quarter. BayBridge Capital Group LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $504,000. TCW Group Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $7,761,000. SageView Advisory Group LLC boosted its position in shares of Eli Lilly and Company by 37.8% in the 4th quarter. SageView Advisory Group LLC now owns 13,012 shares of the company’s stock valued at $8,392,000 after purchasing an additional 3,568 shares during the period. Finally, Cassady Schiller Wealth Management LLC grew its stake in Eli Lilly and Company by 23.6% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 434 shares of the company’s stock worth $253,000 after buying an additional 83 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LLY shares. Truist Financial raised their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Bank of America lifted their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $769.53.

Eli Lilly and Company Trading Up 0.7 %

NYSE:LLY traded up $5.54 on Thursday, hitting $808.45. 3,023,791 shares of the stock were exchanged, compared to its average volume of 3,006,071. Eli Lilly and Company has a fifty-two week low of $419.80 and a fifty-two week high of $820.60. The stock has a fifty day moving average of $763.51 and a 200-day moving average of $690.03. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market cap of $768.36 billion, a PE ratio of 119.61, a PEG ratio of 1.75 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. As a group, equities analysts expect that Eli Lilly and Company will post 13.78 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.