Eli Lilly and Company (NYSE:LLY) Stake Increased by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,579,402 shares of the company’s stock after purchasing an additional 38,762 shares during the period. Eli Lilly and Company makes up about 1.3% of Rhumbline Advisers’ holdings, making the stock its 8th biggest holding. Rhumbline Advisers’ holdings in Eli Lilly and Company were worth $1,429,959,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of LLY. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC lifted its stake in shares of Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LLY. Truist Financial reiterated 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. Jefferies Financial Group raised their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, August 19th. Guggenheim raised their target price 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. Finally, BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Trading Up 2.1 %

LLY stock opened at $960.02 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a fifty day moving average price of $894.03 and a 200 day moving average price of $823.97. The firm has a market cap of $912.41 billion, a PE ratio of 141.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during 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%. Sell-side analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $836.32, for a total value of $17,046,710.56. Following the completion of the sale, the insider now directly owns 98,188,427 shares in the company, valued at $82,116,945,268.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 897,283 shares of company stock valued at $805,651,743. 0.13% of the stock is currently 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.