New Millennium Group LLC Raises Stake in Eli Lilly and Company $LLY

New Millennium Group LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 20.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,055 shares of the company’s stock after buying an additional 355 shares during the quarter. New Millennium Group LLC’s holdings in Eli Lilly and Company were worth $1,602,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. Nuveen LLC acquired a new position in Eli Lilly and Company during the first quarter worth $4,613,912,000. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 6.7% during the first 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in Eli Lilly and Company by 106.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after purchasing an additional 765,010 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Eli Lilly and Company by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock worth $4,808,443,000 after purchasing an additional 682,203 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $906.51 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $935.63. The business’s 50-day moving average price is $788.17 and its 200 day moving average price is $772.81. The firm has a market cap of $857.98 billion, a P/E ratio of 59.25, a P/E/G ratio of 1.21 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same quarter last year, the company posted $1.18 earnings per share. The business’s revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.7%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LLY shares. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. Guggenheim reissued a “buy” rating and issued a $948.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 16th. Wall Street Zen raised Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a report on Saturday. DZ Bank raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Morgan Stanley dropped their target price on Eli Lilly and Company from $1,028.00 to $1,023.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $940.00.

Insider Activity

In related news, Director Jamere Jackson purchased 200 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This represents a 2.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director owned 74,578 shares of the company’s stock, valued at $47,903,686.74. This trade represents a 2.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 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 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.