Exchange Capital Management Inc. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Exchange Capital Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,995 shares of the company’s stock after acquiring an additional 320 shares during the period. Exchange Capital Management Inc.’s holdings in Eli Lilly and Company were worth $1,552,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares in the last quarter. Moseley Investment Management Inc. boosted its holdings in shares of Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after acquiring an additional 14 shares in the last quarter. CGN Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.4% during the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after acquiring an additional 14 shares during the period. Buckhead Capital Management LLC raised its holdings in Eli Lilly and Company by 0.7% during the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after purchasing an additional 15 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its holdings in Eli Lilly and Company by 3.8% during the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Argus lifted 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. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 58,749 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $915.26, for a total value of $53,770,609.74. Following the completion of the transaction, the insider now owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 58,749 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74. Following the completion of the sale, the insider now directly owns 97,308,620 shares in the company, valued at approximately $89,062,687,541.20. The disclosure for this sale can be found here. Insiders have sold a total of 849,894 shares of company stock valued at $727,475,118 over the last three months. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 0.8 %

Eli Lilly and Company stock opened at $906.71 on Wednesday. The firm has a market cap of $861.75 billion, a price-to-earnings ratio of 133.54, a P/E/G ratio of 1.97 and a beta of 0.41. The firm has a fifty day moving average price of $818.06 and a two-hundred day moving average price of $743.26. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

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

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.