Mattern Capital Management LLC Buys 3,673 Shares of Eli Lilly and Company $LLY

Mattern Capital Management LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 50.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,913 shares of the company’s stock after purchasing an additional 3,673 shares during the quarter. Mattern Capital Management LLC’s holdings in Eli Lilly and Company were worth $8,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew 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 acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after purchasing an additional 40 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Eli Lilly and Company during the first quarter valued at about $2,523,000. Cinctive Capital Management LP bought a new stake in shares of Eli Lilly and Company during the first quarter worth about $1,553,000. Finally, Eventide Asset Management LLC increased its stake in shares of Eli Lilly and Company by 13.7% in the first quarter. Eventide Asset Management LLC now owns 4,772 shares of the company’s stock valued at $3,939,000 after buying an additional 574 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LLY. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Guggenheim reiterated a “buy” rating and set a $1,163.00 price target on shares of Eli Lilly and Company in a report on Wednesday, December 3rd. Daiwa Capital Markets set a $1,230.00 price objective on shares of Eli Lilly and Company and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Truist Financial increased their price objective on Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Finally, Leerink Partnrs raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $1,155.36.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,079.83 on Friday. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $1,111.99. The firm has a fifty day simple moving average of $1,013.16 and a 200 day simple moving average of $850.41. The company has a market capitalization of $1.02 trillion, a PE ratio of 52.83, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be paid a dividend of $1.73 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, February 13th. Eli Lilly and Company’s payout ratio is 29.35%.

Eli Lilly and Company Profile

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.