Concentric Capital Strategies LP Grows Position in Eli Lilly and Company (NYSE:LLY)

Concentric Capital Strategies LP raised its holdings in Eli Lilly and Company (NYSE:LLY) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,110 shares of the company’s stock after purchasing an additional 1,991 shares during the period. Eli Lilly and Company accounts for about 0.7% of Concentric Capital Strategies LP’s holdings, making the stock its 17th biggest position. Concentric Capital Strategies LP’s holdings in Eli Lilly and Company were worth $17,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Insight Wealth Strategies LLC bought a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $201,000. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth $32,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 0.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,978 shares of the company’s stock worth $13,561,000 after purchasing an additional 119 shares in the last quarter. Olistico Wealth LLC increased its position in shares of Eli Lilly and Company by 3.6% during the 2nd quarter. Olistico Wealth LLC now owns 3,885 shares of the company’s stock valued at $3,517,000 after purchasing an additional 135 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Eli Lilly and Company by 53.0% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 13,799 shares of the company’s stock valued at $12,494,000 after buying an additional 4,778 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Truist Financial lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $795.35 on Monday. The company’s fifty day moving average price is $851.90 and its 200-day moving average price is $870.85. The stock has a market cap of $755.04 billion, a PE ratio of 85.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the company posted $0.10 EPS. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts expect that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

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.