Smithbridge Asset Management Inc. DE Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Smithbridge Asset Management Inc. DE acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,452 shares of the company’s stock, valued at approximately $11,110,000. Eli Lilly and Company makes up about 2.1% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of LLY. GAMMA Investing LLC lifted its position in shares of Eli Lilly and Company by 103,831.6% during the first 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 acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Capital International Investors lifted its holdings 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 worth $6,740,272,000 after buying an additional 1,645,222 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Finally, UBS Group cut 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

LLY opened at $811.62 on Friday. The business has a 50 day moving average price of $773.53 and a two-hundred day moving average price of $801.30. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $769.20 billion, a price-to-earnings ratio of 69.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced 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 net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the company earned $2.58 EPS. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.