US Asset Management LLC Takes $928,000 Position in Eli Lilly and Company (NYSE:LLY)

US Asset Management LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,592 shares of the company’s stock, valued at approximately $928,000. Eli Lilly and Company makes up about 0.9% of US Asset Management LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $682,139,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $435,736,000. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Eli Lilly and Company by 24.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock worth $1,778,362,000 after purchasing an additional 645,473 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $7.06 during midday trading on Friday, reaching $764.49. The stock had a trading volume of 831,127 shares, compared to its average volume of 3,045,992. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $800.78. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm’s 50 day moving average price is $761.92 and its 200-day moving average price is $676.24. The company has a market capitalization of $726.58 billion, a P/E ratio of 113.12, a P/E/G ratio of 1.45 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 13.82 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.68%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LLY. Citigroup raised their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America lifted their price target on 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. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and 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.