Pacer Advisors Inc. Has $61.58 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Pacer Advisors Inc. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,017 shares of the company’s stock after buying an additional 3,713 shares during the period. Pacer Advisors Inc.’s holdings in Eli Lilly and Company were worth $61,581,000 at the end of the most recent reporting period.

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

Eli Lilly and Company Stock Performance

NYSE LLY opened at $921.49 on Friday. The firm has a 50-day moving average price of $895.06 and a two-hundred day moving average price of $838.32. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The company has a market capitalization of $875.79 billion, a P/E ratio of 135.71, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

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, beating analysts’ consensus estimates 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 net margin of 18.86% and a return on equity of 67.52%. Analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Transactions at Eli Lilly and Company

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

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. Bank of America boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays boosted their price target 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. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Citigroup initiated coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seventeen have issued 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 target price 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.