1832 Asset Management L.P. Purchases 116,956 Shares of Eli Lilly and Company (NYSE:LLY)

1832 Asset Management L.P. increased its position in Eli Lilly and Company (NYSE:LLY) by 22.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 642,431 shares of the company’s stock after buying an additional 116,956 shares during the period. Eli Lilly and Company accounts for about 0.5% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 20th largest holding. 1832 Asset Management L.P.’s holdings in Eli Lilly and Company were worth $581,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth $36,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Core Wealth Advisors Inc. raised its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Finally, Tidemark LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $29,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $921.49 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm’s 50-day simple moving average is $895.06 and its 200-day simple moving average is $838.32. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The firm has a market cap of $875.79 billion, a P/E ratio of 135.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued 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. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analyst Ratings Changes

Several research analysts recently commented on LLY shares. Bank of America lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now directly owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 442,229 shares of company stock valued at $410,002,456. 0.13% of the stock is currently owned by insiders.

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.