Eli Lilly and Company (NYSE:LLY) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 150.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,387 shares of the company’s stock after purchasing an additional 8,039 shares during the quarter. Eli Lilly and Company makes up approximately 0.6% of Edgestream Partners L.P.’s portfolio, making the stock its 7th largest holding. Edgestream Partners L.P.’s holdings in Eli Lilly and Company were worth $12,120,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GDS Wealth Management acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $240,000. Pekin Hardy Strauss Inc. lifted its position in shares of Eli Lilly and Company by 10.6% in the second quarter. Pekin Hardy Strauss Inc. now owns 1,356 shares of the company’s stock valued at $1,228,000 after acquiring an additional 130 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Eli Lilly and Company by 6.3% during the second quarter. Moors & Cabot Inc. now owns 20,882 shares of the company’s stock valued at $18,906,000 after acquiring an additional 1,229 shares during the last quarter. Excalibur Management Corp increased its position in Eli Lilly and Company by 6.4% during the 2nd quarter. Excalibur Management Corp now owns 1,372 shares of the company’s stock worth $1,242,000 after purchasing an additional 83 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. acquired a new position in Eli Lilly and Company in the 2nd quarter valued at about $812,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $924.05 on Tuesday. The business has a 50-day moving average price of $897.24 and a two-hundred day moving average price of $835.09. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The stock has a market capitalization of $878.22 billion, a P/E ratio of 136.09, a P/E/G ratio of 2.79 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 451,900 shares of company stock worth $418,732,178 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Barclays lifted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Guggenheim increased their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup assumed coverage on Eli Lilly and Company in a report on Friday. They set a “buy” rating and a $1,060.00 target price for the company. Three investment 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, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

About Eli Lilly and Company

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.