Northeast Investment Management Has $45.70 Million Position in Eli Lilly and Company (NYSE:LLY)

Northeast Investment Management boosted its position in Eli Lilly and Company (NYSE:LLY) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,474 shares of the company’s stock after buying an additional 3,801 shares during the quarter. Eli Lilly and Company makes up about 2.1% of Northeast Investment Management’s portfolio, making the stock its 11th biggest position. Northeast Investment Management’s holdings in Eli Lilly and Company were worth $45,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Eli Lilly and Company by 1.6% in the 1st 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 during the last quarter. Capital World Investors raised 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 buying an additional 89,720 shares during the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $5,992,890,000. Capital Research Global Investors raised its position in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares during the last quarter. Finally, Capital International Investors raised its position in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after buying an additional 335,560 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. 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. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, August 19th. Finally, Wells Fargo & Company boosted 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Performance

LLY traded down $5.54 during trading on Wednesday, hitting $948.94. The stock had a trading volume of 1,679,095 shares, compared to its average volume of 3,081,237. The company has a 50 day moving average price of $888.89 and a 200-day moving average price of $818.23. The firm has a market cap of $901.88 billion, a price-to-earnings ratio of 139.76, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now directly owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now directly owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 1,120,089 shares of company stock worth $990,278,343 in the last ninety days. 0.13% of the stock is owned by company insiders.

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.