Beacon Financial Group Has $368,000 Position in Eli Lilly and Company (NYSE:LLY)

Beacon Financial Group increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% in the first quarter, Holdings Channel reports. The institutional investor owned 446 shares of the company’s stock after buying an additional 18 shares during the period. Beacon Financial Group’s holdings in Eli Lilly and Company were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LLY. Channel Wealth LLC grew its stake in Eli Lilly and Company by 17.0% in the first quarter. Channel Wealth LLC now owns 9,947 shares of the company’s stock valued at $8,215,000 after purchasing an additional 1,443 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 22.3% during the 1st quarter. Warren Street Wealth Advisors LLC now owns 1,426 shares of the company’s stock worth $1,178,000 after purchasing an additional 260 shares during the last quarter. Matrix Trust Co lifted its holdings in Eli Lilly and Company by 25.9% during the 1st quarter. Matrix Trust Co now owns 267 shares of the company’s stock worth $221,000 after purchasing an additional 55 shares during the last quarter. Clare Market Investments LLC increased its stake in Eli Lilly and Company by 90.8% during the 1st quarter. Clare Market Investments LLC now owns 4,209 shares of the company’s stock worth $3,476,000 after acquiring an additional 2,003 shares during the period. Finally, Secure Asset Management LLC increased its stake in Eli Lilly and Company by 7.2% during the 1st quarter. Secure Asset Management LLC now owns 3,907 shares of the company’s stock worth $3,227,000 after acquiring an additional 262 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $765.13 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $725.14 billion, a price-to-earnings ratio of 65.34, a PEG ratio of 1.40 and a beta of 0.48. The stock has a 50 day moving average of $771.54 and a 200 day moving average of $799.67. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

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.