Eli Lilly and Company (NYSE:LLY) Shares Acquired by Norden Group LLC

Norden Group LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 2,105.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,098 shares of the company’s stock after purchasing an additional 35,416 shares during the quarter. Norden Group LLC’s holdings in Eli Lilly and Company were worth $28,860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Arvest Investments Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $616,000. Meadow Creek Wealth Advisors LLC lifted its stake in shares of Eli Lilly and Company by 112.4% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 4,161 shares of the company’s stock valued at $3,237,000 after buying an additional 2,202 shares during the period. Lake Street Private Wealth LLC lifted its stake in shares of Eli Lilly and Company by 5.7% during the first quarter. Lake Street Private Wealth LLC now owns 8,175 shares of the company’s stock valued at $6,360,000 after buying an additional 440 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Eli Lilly and Company by 2.9% during the first quarter. Valley National Advisers Inc. now owns 5,901 shares of the company’s stock valued at $4,591,000 after buying an additional 165 shares during the period. Finally, TCP Asset Management LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LLY. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their price target 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. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. The Goldman Sachs Group increased their price target 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, 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. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Price Performance

LLY opened at $898.10 on Friday. The company has a fifty day simple moving average of $824.60 and a 200 day simple moving average of $746.69. The firm has a market cap of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.96 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $918.50. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

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

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the firm’s 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 directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last three months, insiders sold 858,742 shares of company stock valued at $735,573,781. Corporate insiders own 0.13% of the company’s stock.

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.