Welch Group LLC Has $5.80 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Welch Group LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,548 shares of the company’s stock after buying an additional 209 shares during the period. Welch Group LLC’s holdings in Eli Lilly and Company were worth $5,801,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LLY. Claro Advisors LLC increased its position in shares of Eli Lilly and Company by 169.3% during the first quarter. Claro Advisors LLC now owns 3,614 shares of the company’s stock worth $2,811,000 after acquiring an additional 2,272 shares in the last quarter. O ROURKE & COMPANY Inc raised its stake in shares of Eli Lilly and Company by 31.0% in the 1st quarter. O ROURKE & COMPANY Inc now owns 1,083 shares of the company’s stock valued at $843,000 after purchasing an additional 256 shares during the period. Consilio Wealth Advisors LLC raised its stake in shares of Eli Lilly and Company by 9.2% in the 1st quarter. Consilio Wealth Advisors LLC now owns 725 shares of the company’s stock valued at $564,000 after purchasing an additional 61 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 12.7% in the first quarter. Hexagon Capital Partners LLC now owns 720 shares of the company’s stock valued at $560,000 after purchasing an additional 81 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its position in shares of Eli Lilly and Company by 6.1% during the first quarter. Congress Wealth Management LLC DE now owns 38,576 shares of the company’s stock worth $30,011,000 after buying an additional 2,212 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Stock Performance

LLY opened at $895.71 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The business has a 50 day moving average of $919.22 and a 200-day moving average of $864.16. The stock has a market cap of $851.29 billion, a price-to-earnings ratio of 131.92, a PEG ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, equities research analysts expect that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

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.