778 Shares in Eli Lilly and Company (NYSE:LLY) Bought by Balanced Wealth Group LLC

Balanced Wealth Group LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the fourth quarter, HoldingsChannel reports. The fund bought 778 shares of the company’s stock, valued at approximately $454,000.

Other hedge funds have also modified their holdings of the company. Buckhead Capital Management LLC boosted its position in shares of Eli Lilly and Company by 0.7% during the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after buying an additional 15 shares during the period. Levin Capital Strategies L.P. increased its position in Eli Lilly and Company by 3.8% during the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after acquiring an additional 15 shares during the period. JGP Wealth Management LLC raised its position in shares of Eli Lilly and Company by 0.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock valued at $1,074,000 after buying an additional 16 shares during the last quarter. Valley Wealth Managers Inc. lifted its position in Eli Lilly and Company by 1.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock worth $688,000 after purchasing an additional 17 shares during the period. Finally, Sandy Cove Advisors LLC lifted its position in Eli Lilly and Company by 0.8% during the 4th quarter. Sandy Cove Advisors LLC now owns 2,241 shares of the company’s stock worth $1,307,000 after buying an additional 17 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Bank of America lifted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets upped their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Price Performance

Shares of LLY traded down $2.77 during midday trading on Wednesday, hitting $775.00. The company’s stock had a trading volume of 2,021,056 shares, compared to its average volume of 3,076,476. Eli Lilly and Company has a one year low of $419.80 and a one year high of $800.78. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $736.56 billion, a price-to-earnings ratio of 114.14, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company’s fifty day simple moving average is $761.22 and its two-hundred day simple moving average is $674.88.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. As a group, equities analysts expect that Eli Lilly and Company will post 13.82 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, May 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.