Investment Research & Advisory Group Inc. Buys 3,048 Shares of Eli Lilly and Company (NYSE:LLY)

Investment Research & Advisory Group Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 94.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,269 shares of the company’s stock after acquiring an additional 3,048 shares during the quarter. Eli Lilly and Company makes up 2.2% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 11th largest holding. Investment Research & Advisory Group Inc.’s holdings in Eli Lilly and Company were worth $4,877,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $26,000. Core Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $29,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after buying an additional 37 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Argus raised their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. raised 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. Citigroup raised their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $905.38 on Friday. The firm has a market capitalization of $860.48 billion, a P/E ratio of 133.34, a PEG ratio of 1.97 and a beta of 0.36. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $915.54. The business has a 50-day moving average of $814.40 and a 200-day moving average of $739.86. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the previous year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 789,704 shares of company stock worth $672,385,964 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.