Corient IA LLC Invests $570,000 in Eli Lilly and Company (NYSE:LLY)

Corient IA LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 690 shares of the company’s stock, valued at approximately $570,000.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. PNC Financial Services Group Inc. boosted its holdings in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Nuveen LLC acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $4,613,912,000. Vanguard Group Inc. boosted its holdings in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Leerink Partners reaffirmed a “market perform” rating and set a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Cantor Fitzgerald reduced their price target on shares of Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Leerink Partnrs lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $964.88.

Eli Lilly and Company Stock Up 2.5%

Eli Lilly and Company stock opened at $701.51 on Friday. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The stock’s fifty day simple moving average is $764.55 and its 200-day simple moving average is $794.63. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $663.95 billion, a P/E ratio of 45.85, a P/E/G ratio of 0.98 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the company earned $3.92 earnings per share. The company’s revenue was up 37.6% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company’s dividend payout ratio is currently 39.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, Director J Erik Fyrwald acquired 1,565 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the transaction, the director owned 74,578 shares of the company’s stock, valued at $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Skovronsky acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares of the company’s stock, valued at approximately $87,331,504. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,514 shares of company stock valued at $2,894,841. Insiders own 0.13% of the company’s stock.

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.