Salem Investment Counselors Inc. Grows Stake in Eli Lilly and Company (NYSE:LLY)

Salem Investment Counselors Inc. lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,443 shares of the company’s stock after purchasing an additional 2,827 shares during the period. Eli Lilly and Company accounts for about 2.1% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 10th biggest holding. Salem Investment Counselors Inc.’s holdings in Eli Lilly and Company were worth $59,006,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Knightsbridge Asset Management LLC grew its stake in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after buying an additional 15 shares during the last quarter. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $514,000. LS Investment Advisors LLC lifted its position in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $1,933,000 after purchasing an additional 40 shares during the last quarter. Kentucky Trust Co bought a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $834,000. Finally, CSM Advisors LLC grew its holdings in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after buying an additional 245 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LLY. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Trading Up 0.4%

Shares of LLY opened at $811.62 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. The company has a market cap of $769.20 billion, a price-to-earnings ratio of 69.31, a PEG ratio of 1.40 and a beta of 0.41. The stock has a fifty day moving average price of $773.53 and a two-hundred day moving average price of $801.30. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. Eli Lilly and Company’s payout ratio is presently 48.82%.

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.