Optas LLC Increases Stake in Eli Lilly and Company (NYSE:LLY)

Optas LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 2.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,501 shares of the company’s stock after purchasing an additional 53 shares during the quarter. Optas LLC’s holdings in Eli Lilly and Company were worth $1,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Simon Quick Advisors LLC raised its position in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares during the last quarter. Independent Advisor Alliance raised its position in Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the last quarter. Apexium Financial LP raised its position in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $363,000. Finally, Terril Brothers Inc. raised its position in Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after buying an additional 429 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock valued at $672,385,964 in the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Trading Down 0.4 %

Shares of LLY opened at $905.38 on Monday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $915.54. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm’s fifty day moving average is $814.40 and its two-hundred day moving average is $740.86. The stock has a market cap of $860.48 billion, a PE ratio of 133.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41.

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

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analysts Set New Price Targets

LLY has been the topic of a number of analyst reports. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. BMO Capital Markets raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Argus raised 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 research note on Tuesday, May 14th. The Goldman Sachs Group raised their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.