King Luther Capital Management Corp Has $116.96 Million Stake in Eli Lilly and Company (NYSE:LLY)

King Luther Capital Management Corp boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,181 shares of the company’s stock after acquiring an additional 2,397 shares during the quarter. King Luther Capital Management Corp’s holdings in Eli Lilly and Company were worth $116,958,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. grew its stake in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $37,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 442,229 shares of company stock valued at $410,002,456. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

LLY stock opened at $915.04 on Friday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. 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 firm has a market cap of $869.66 billion, a PE ratio of 134.76, a P/E/G ratio of 2.79 and a beta of 0.42. The business’s 50-day moving average price is $895.62 and its two-hundred day moving average price is $836.99.

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

Eli Lilly and Company Announces Dividend

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

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Guggenheim lifted 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. Barclays increased their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target 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.