Simmons Bank Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Simmons Bank grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the fourth quarter, HoldingsChannel reports. The fund owned 8,012 shares of the company’s stock after buying an additional 227 shares during the quarter. Simmons Bank’s holdings in Eli Lilly and Company were worth $4,670,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Simon Quick Advisors LLC boosted its position in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $363,000. Terril Brothers Inc. grew its stake in shares of Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares during the last quarter. Hartline Investment Corp boosted its stake in Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after buying an additional 248 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Eli Lilly and Company by 5.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 354,565 shares of the company’s stock valued at $206,683,000 after acquiring an additional 17,461 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.3 %

Shares of NYSE:LLY traded down $1.96 during mid-day trading on Wednesday, hitting $775.81. 1,286,380 shares of the company traded hands, compared to its average volume of 3,067,635. The stock has a market cap of $737.33 billion, a P/E ratio of 114.24, a P/E/G ratio of 1.45 and a beta of 0.37. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average price of $761.22 and a two-hundred day moving average price of $674.88. Eli Lilly and Company has a 12-month low of $419.80 and a 12-month high of $800.78.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis 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 76.58%.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target (up from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday, April 30th. BMO Capital Markets upped their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Citigroup raised their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.