Jacobs Levy Equity Management Inc. Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Jacobs Levy Equity Management Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 357.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,074 shares of the company’s stock after purchasing an additional 8,651 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Eli Lilly and Company were worth $8,615,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares in the last quarter. Twin Peaks Wealth Advisors LLC increased its holdings in shares of Eli Lilly and Company by 2.0% in the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after buying an additional 14 shares during the last quarter. Pitti Group Wealth Management LLC increased its holdings in shares of Eli Lilly and Company by 0.8% in the 1st quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock worth $1,271,000 after buying an additional 14 shares during the last quarter. Ulland Investment Advisors LLC increased its holdings in shares of Eli Lilly and Company by 7.0% in the 1st quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after buying an additional 14 shares during the last quarter. Finally, Moseley Investment Management Inc. increased its holdings in shares of Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 2.2 %

Shares of LLY traded down $17.49 during mid-day trading on Tuesday, hitting $790.30. The company’s stock had a trading volume of 3,845,437 shares, compared to its average volume of 2,991,133. The company’s 50-day moving average is $870.62 and its 200-day moving average is $785.24. Eli Lilly and Company has a 52-week low of $446.89 and a 52-week high of $966.10. The firm has a market capitalization of $751.11 billion, a price-to-earnings ratio of 116.46, a PEG ratio of 1.75 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group boosted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Citigroup boosted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Barclays upped their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Bank of America reiterated a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $858.72.

Eli Lilly and Company 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.