Summit Global Investments Purchases 6,884 Shares of Eli Lilly and Company $LLY

Summit Global Investments grew its position in shares of Eli Lilly and Company (NYSE:LLYFree Report) by 170.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,919 shares of the company’s stock after purchasing an additional 6,884 shares during the quarter. Summit Global Investments’ holdings in Eli Lilly and Company were worth $8,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after buying an additional 40 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 32.0% in the second quarter. OneAscent Wealth Management LLC now owns 359 shares of the company’s stock valued at $280,000 after buying an additional 87 shares during the period. Trilogy Capital Inc. raised its position in shares of Eli Lilly and Company by 242.1% during the second quarter. Trilogy Capital Inc. now owns 4,187 shares of the company’s stock worth $3,264,000 after acquiring an additional 2,963 shares during the last quarter. Finally, Deltec Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 17.4% in the second quarter. Deltec Asset Management LLC now owns 6,750 shares of the company’s stock worth $5,262,000 after acquiring an additional 1,000 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company News Roundup

Here are the key news stories impacting Eli Lilly and Company this week:

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,023.81 on Friday. The firm has a market capitalization of $967.89 billion, a P/E ratio of 50.09, a P/E/G ratio of 0.77 and a beta of 0.35. The firm’s 50-day moving average price is $1,057.27 and its 200-day moving average price is $887.02. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,133.95.

Eli Lilly and Company (NYSE:LLYGet Free Report) last issued its earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same period last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, February 13th. Eli Lilly and Company’s payout ratio is 29.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LLY shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Eli Lilly and Company in a research report on Monday, December 22nd. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $830.00 to $950.00 and gave the stock a “hold” rating in a research note on Tuesday, December 2nd. Wolfe Research boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Scotiabank initiated coverage on Eli Lilly and Company in a report on Thursday, November 13th. They set a “sector outperform” rating and a $1,165.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $1,173.91.

Check Out Our Latest Stock Report on LLY

About Eli Lilly and Company

(Free Report)

Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.

Further Reading

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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