Mattern Capital Management LLC Invests $222,000 in Eli Lilly and Company (NYSE:LLY)

Mattern Capital Management LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 285 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. Capital World Investors raised its stake in Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $5,992,890,000. Capital Research Global Investors boosted its stake in shares of Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after purchasing an additional 325,342 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 4.4 %

Shares of LLY stock traded down $37.66 during trading hours on Thursday, reaching $822.22. The company had a trading volume of 5,464,276 shares, compared to its average volume of 2,979,934. Eli Lilly and Company has a 1-year low of $446.56 and a 1-year high of $966.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm has a market cap of $781.45 billion, a price-to-earnings ratio of 121.09, a P/E/G ratio of 1.91 and a beta of 0.41. The company has a 50 day moving average of $869.43 and a 200 day moving average of $780.61.

Eli Lilly and Company (NYSE:LLY) last released its 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 analyst estimates 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.78 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Citigroup increased 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. Berenberg Bank lifted their price objective on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $858.72.

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.