Granite Investment Partners LLC Has $34.57 Million Stake in Eli Lilly and Company (NYSE:LLY)

Granite Investment Partners LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,177 shares of the company’s stock after selling 64 shares during the period. Eli Lilly and Company accounts for about 1.4% of Granite Investment Partners LLC’s portfolio, making the stock its 11th largest position. Granite Investment Partners LLC’s holdings in Eli Lilly and Company were worth $34,565,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 442,229 shares of company stock worth $410,002,456. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LLY shares. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Berenberg Bank boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Up 1.1 %

LLY stock opened at $915.04 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $895.62 and its 200 day moving average is $836.99. The stock has a market cap of $869.66 billion, a price-to-earnings ratio of 134.76, a price-to-earnings-growth 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.

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

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend 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 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.