Eli Lilly and Company (NYSE:LLY) is Wulff Hansen & CO.’s 5th Largest Position

Wulff Hansen & CO. raised its holdings in Eli Lilly and Company (NYSE:LLY) by 90,438.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 937,068 shares of the company’s stock after purchasing an additional 936,033 shares during the quarter. Eli Lilly and Company accounts for approximately 4.5% of Wulff Hansen & CO.’s investment portfolio, making the stock its 5th biggest holding. Wulff Hansen & CO. owned 0.10% of Eli Lilly and Company worth $848,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $932,797,000. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 1.6% in the first 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 in the last quarter. GQG Partners LLC raised its stake in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the period. Capital International Investors lifted its position in shares of Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after buying an additional 497,079 shares in the last quarter. Finally, Capital Research Global Investors grew its stake 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 acquiring an additional 453,939 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Citigroup assumed coverage on Eli Lilly and Company in a research note on Friday. They issued a “buy” rating and a $1,060.00 price target on the stock. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $924.05 on Tuesday. The firm has a market cap of $878.22 billion, a PE ratio of 136.09, a price-to-earnings-growth 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 has a 52 week low of $516.57 and a 52 week high of $972.53. The business’s fifty day simple moving average is $897.24 and its 200-day simple moving average is $835.09.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 451,900 shares of company stock worth $418,732,178 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.