Cypress Asset Management Inc. TX Makes New $17.27 Million Investment in Eli Lilly and Company (NYSE:LLY)

Cypress Asset Management Inc. TX bought a new position in Eli Lilly and Company (NYSE:LLY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,972 shares of the company’s stock, valued at approximately $17,269,000. Eli Lilly and Company accounts for 4.3% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 4th largest holding.

Several other hedge funds also recently bought and sold shares of LLY. Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. FWG Holdings LLC boosted its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC boosted its position in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC lifted its position in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Finally, Applied Finance Capital Management LLC lifted its position in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

LLY opened at $713.99 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $676.67 billion, a P/E ratio of 60.97, a P/E/G ratio of 1.40 and a beta of 0.48. The company’s 50-day simple moving average is $789.29 and its two-hundred day simple moving average is $803.19. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the company earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. UBS Group decreased their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Truist Financial upped their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

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.