Eli Lilly and Company (NYSE:LLY) Stake Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 463,995 shares of the company’s stock after purchasing an additional 17,001 shares during the quarter. Eli Lilly and Company accounts for approximately 1.5% of Los Angeles Capital Management LLC’s holdings, making the stock its 9th biggest holding. Los Angeles Capital Management LLC’s holdings in Eli Lilly and Company were worth $420,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth about $5,992,890,000. Swedbank AB bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $932,797,000. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $10.04 during midday trading on Friday, reaching $902.71. The company’s stock had a trading volume of 3,439,999 shares, compared to its average volume of 3,063,074. The firm has a market capitalization of $857.94 billion, a PE ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a fifty day moving average of $895.97 and a 200 day moving average of $827.49. 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 (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts expect that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LLY. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Argus increased their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Barclays raised their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80. Following the transaction, the insider now owns 97,793,810 shares in the company, valued at approximately $84,178,955,771.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 737,410 shares of company stock worth $669,719,100. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company 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.