O Neil Global Advisors Inc. Invests $6.37 Million in Eli Lilly and Company (NYSE:LLY)

O Neil Global Advisors Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 7,036 shares of the company’s stock, valued at approximately $6,370,000. Eli Lilly and Company accounts for approximately 3.0% of O Neil Global Advisors Inc.’s portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Independent Advisor Alliance lifted its position in Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the period. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $6,916,000. M&G Plc purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $8,896,000. Finally, IPG Investment Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $351,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the completion of the sale, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 646,878 shares of company stock valued at $591,465,138 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Performance

LLY opened at $923.71 on Friday. The company’s 50 day moving average is $897.12 and its 200 day moving average is $832.88. 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 cap of $877.92 billion, a price-to-earnings ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their target price for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Citigroup started coverage on shares of Eli Lilly and Company in a research report on Friday. They set a “buy” rating and a $1,060.00 price target for the company. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $977.35.

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.