Morris Financial Concepts Inc. Purchases 557 Shares of Eli Lilly and Company (NYSE:LLY)

Morris Financial Concepts Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,195 shares of the company’s stock after acquiring an additional 557 shares during the quarter. Eli Lilly and Company comprises 0.8% of Morris Financial Concepts Inc.’s investment portfolio, making the stock its 23rd biggest holding. Morris Financial Concepts Inc.’s holdings in Eli Lilly and Company were worth $1,813,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of LLY. GAMMA Investing LLC boosted its position in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the 4th quarter worth about $8,407,908,000. Wellington Management Group LLP boosted its position in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Capital International Investors lifted its position in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.0%

NYSE:LLY opened at $779.60 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market cap of $738.85 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a 50-day moving average price of $773.61 and a two-hundred day moving average price of $799.96.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities analysts expect that Eli Lilly and Company will post 23.48 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 Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LLY shares. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reaffirmed a “buy” rating and issued a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,011.61.

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.