Patrick M Sweeney & Associates Inc. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Patrick M Sweeney & Associates Inc. acquired a new stake in Eli Lilly and Company (NYSE:LLY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,897 shares of the company’s stock, valued at approximately $1,689,000. Eli Lilly and Company makes up approximately 1.5% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the period. Morgan Stanley lifted its position in Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares during the last quarter. Northern Trust Corp increased its position in shares of Eli Lilly and Company by 3.6% during the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after purchasing an additional 355,317 shares in the last quarter. International Assets Investment Management LLC grew its stake in Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Eli Lilly and Company by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,560,553 shares of the company’s stock valued at $2,658,438,000 after buying an additional 125,242 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

LLY traded down $2.77 during trading on Wednesday, hitting $775.00. 2,010,704 shares of the stock were exchanged, compared to its average volume of 3,076,360. The firm has a market capitalization of $736.56 billion, a P/E ratio of 114.24, a PEG ratio of 1.45 and a beta of 0.37. Eli Lilly and Company has a 1-year low of $419.80 and a 1-year high of $800.78. The stock has a fifty day moving average price of $761.22 and a two-hundred day moving average price of $674.88. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.62 EPS. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LLY shares. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target (up previously from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday, April 30th. Barclays increased their price target on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $757.95.

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.