Seven Eight Capital LP Grows Position in Eli Lilly and Company (NYSE:LLY)

Seven Eight Capital LP increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 146.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,118 shares of the company’s stock after buying an additional 1,258 shares during the quarter. Seven Eight Capital LP’s holdings in Eli Lilly and Company were worth $1,918,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction on Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 442,229 shares of company stock valued at $410,002,456 over the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $905.10 on Thursday. The stock has a fifty day moving average price of $896.00 and a 200 day moving average price of $836.45. The stock has a market cap of $860.21 billion, a PE ratio of 133.30, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on LLY. Barclays increased their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on 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. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $977.35.

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.