Nkcfo LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Nkcfo LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,750 shares of the company’s stock, valued at approximately $1,584,000. Eli Lilly and Company makes up 0.9% of Nkcfo LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Capital Planning LLC acquired a new stake in Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Eli Lilly and Company during the first quarter worth about $6,916,000. M&G Plc purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $8,896,000. IPG Investment Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $351,000. Finally, HighPoint Advisor Group LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $9,878,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research reports. JPMorgan Chase & Co. raised 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 report on Friday, September 13th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Guggenheim raised 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. Finally, Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $921.72 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 has a market capitalization of $876.01 billion, a P/E ratio of 135.75, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The firm has a 50-day moving average price of $895.06 and a two-hundred day moving average price of $837.89. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 over the last quarter. Insiders own 0.13% of the company’s stock.

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.