Seaview Investment Managers LLC Makes New $9.50 Million Investment in Eli Lilly and Company (NYSE:LLY)

Seaview Investment Managers LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 10,487 shares of the company’s stock, valued at approximately $9,495,000. Eli Lilly and Company accounts for about 2.9% of Seaview Investment Managers LLC’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in LLY. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the period. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Finally, Activest Wealth Management acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $39,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised their price target on 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Bank of America raised their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Guggenheim raised their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Three 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the transaction, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 661,900 shares of company stock worth $604,721,602 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $908.39 on Tuesday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a market capitalization of $863.36 billion, a P/E ratio of 133.78, a PEG ratio of 2.73 and a beta of 0.42. 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 business’s fifty day moving average price is $895.85 and its 200 day moving average price is $829.55.

Eli Lilly and Company (NYSE:LLY) last issued its 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. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, research analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.