Norden Group LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Norden Group LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,080 shares of the company’s stock after buying an additional 27 shares during the quarter. Norden Group LLC’s holdings in Eli Lilly and Company were worth $1,883,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Monday, August 12th. Argus boosted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $860.78, for a total value of $64,997,497.80. Following the completion of the sale, the insider now directly owns 97,793,810 shares of the company’s stock, valued at approximately $84,178,955,771.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 737,410 shares of company stock worth $669,719,100. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 1.1 %

Shares of NYSE:LLY opened at $902.71 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The stock’s fifty day simple moving average is $895.97 and its 200-day simple moving average is $827.99. The company has a market capitalization of $857.94 billion, a P/E ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.42.

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

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

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.