Simplify Asset Management Inc. Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Simplify Asset Management Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 41.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,412 shares of the company’s stock after purchasing an additional 3,371 shares during the period. Eli Lilly and Company makes up approximately 0.7% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. Simplify Asset Management Inc.’s holdings in Eli Lilly and Company were worth $10,332,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors grew its position in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Capital Research Global Investors increased its stake in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares during the period. Capital International Investors lifted its position in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock valued at $2,647,675,000 after purchasing an additional 85,015 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 442,229 shares of company stock valued at $410,002,456. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $915.04 on Friday. The stock’s 50-day moving average is $895.62 and its two-hundred day moving average is $836.99. 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 has a 1 year low of $516.57 and a 1 year high of $972.53. The firm has a market cap of $869.66 billion, a price-to-earnings ratio of 134.76, a PEG ratio of 2.79 and a beta of 0.42.

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

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Citigroup began coverage on Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. BMO Capital Markets increased their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

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.