Coastal Bridge Advisors LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Coastal Bridge Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.3% during the 4th quarter, HoldingsChannel reports. The fund owned 660 shares of the company’s stock after buying an additional 116 shares during the period. Coastal Bridge Advisors LLC’s holdings in Eli Lilly and Company were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after buying an additional 475,530 shares during the period. Geode Capital Management LLC lifted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. Wellington Management Group LLP increased its holdings in Eli Lilly and Company by 19.0% during 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 buying an additional 2,012,129 shares during the last quarter. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Finally, Capital Research Global Investors increased its holdings in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Eli Lilly and Company stock opened at $776.94 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market cap of $736.33 billion, a P/E ratio of 66.35, a P/E/G ratio of 1.40 and a beta of 0.48. The business has a fifty day moving average of $818.04 and a two-hundred day moving average of $813.77. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS 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 business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 45.2% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. UBS Group reduced their price objective on 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. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,002.80.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

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.