Tredje AP fonden Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Tredje AP fonden grew its stake in Eli Lilly and Company (NYSE:LLY) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 229,293 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Eli Lilly and Company comprises approximately 2.0% of Tredje AP fonden’s holdings, making the stock its 7th largest position. Tredje AP fonden’s holdings in Eli Lilly and Company were worth $207,597,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Tidemark LLC bought a new stake in Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. grew its position 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 valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth about $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company in the 4th quarter worth about $37,000. 82.53% of the stock is owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 451,900 shares of company stock worth $418,732,178 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 1.9 %

NYSE LLY opened at $906.17 on Wednesday. The company has a fifty day moving average of $896.70 and a 200 day moving average of $835.96. The company has a market capitalization of $861.23 billion, a PE ratio of 133.46, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Research analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Bank of America upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

About Eli Lilly and Company

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.