Legacy Capital Group California Inc. Takes $1.08 Million Position in Eli Lilly and Company (NYSE:LLY)

Legacy Capital Group California Inc. purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,860 shares of the company’s stock, valued at approximately $1,084,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $26,000. Optiver Holding B.V. purchased a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $36,000. St. Johns Investment Management Company LLC lifted its holdings in Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares during the period. Family CFO Inc purchased a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $40,000. Finally, O Brien Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 70.5% in the 4th quarter. O Brien Wealth Partners LLC now owns 75 shares of the company’s stock worth $44,000 after buying an additional 31 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 2.0 %

Shares of Eli Lilly and Company stock traded down $15.90 on Thursday, reaching $771.12. The company’s stock had a trading volume of 2,245,010 shares, compared to its average volume of 3,027,592. The company has a market capitalization of $732.88 billion, a price-to-earnings ratio of 114.33, a P/E/G ratio of 1.50 and a beta of 0.37. The firm’s fifty day simple moving average is $760.67 and its two-hundred day simple moving average is $682.27. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. 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 (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. Equities analysts anticipate that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. 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. The Goldman Sachs Group raised their target price on 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. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $769.53.

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.