Eli Lilly and Company (NYSE:LLY) Stock Holdings Boosted by SP Asset Management LLC

SP Asset Management LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,810 shares of the company’s stock after acquiring an additional 107 shares during the period. SP Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,544,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LLY. Twelve Points Wealth Management LLC lifted its holdings in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares during the last quarter. Verum Partners LLC raised its holdings in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares in the last quarter. Acorn Creek Capital LLC lifted its stake in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after purchasing an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after purchasing an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $901.28 on Wednesday. The company has a market capitalization of $856.60 billion, a PE ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42. 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 company’s 50 day moving average price is $895.74 and its 200 day moving average price is $830.47. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Research analysts expect that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the completion of the sale, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 661,900 shares of company stock valued at $604,721,602 in the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. BMO Capital Markets lifted their price target on 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. Finally, Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

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.