CHURCHILL MANAGEMENT Corp Purchases New Shares in Eli Lilly and Company (NYSE:LLY)

CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company (NYSE:LLY) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,889 shares of the company’s stock, valued at approximately $6,916,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LLY. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $26,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. grew its stake in shares of Eli Lilly and Company by 188.2% during the fourth 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. Optiver Holding B.V. acquired a new stake in shares of Eli Lilly and Company during the third quarter worth $36,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $37,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $883.88 on Friday. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $905.45. The stock’s 50 day moving average is $798.59 and its 200-day moving average is $728.91. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $840.05 billion, a price-to-earnings ratio of 130.17, a PEG ratio of 1.93 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 762,804 shares of company stock valued at $648,109,138. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 17th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $803.50.

Eli Lilly and Company 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.