StoneCrest Wealth Management Inc. Acquires 841 Shares of Eli Lilly and Company (NYSE:LLY)

StoneCrest Wealth Management Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,109 shares of the company’s stock after buying an additional 841 shares during the quarter. Eli Lilly and Company makes up 3.2% of StoneCrest Wealth Management Inc.’s holdings, making the stock its 8th biggest holding. StoneCrest Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $5,045,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LLY. GAMMA Investing LLC raised its position in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP raised its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors raised its position in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Trading Up 0.6%

Shares of Eli Lilly and Company stock opened at $770.00 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. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The stock has a 50 day moving average price of $770.87 and a two-hundred day moving average price of $799.95. The stock has a market capitalization of $729.76 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $2.58 EPS. The company’s revenue was up 45.2% on a year-over-year basis. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is 48.82%.

Insider Activity 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 that occurred 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 transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

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.