Eli Lilly and Company (NYSE:LLY) Stock Position Lifted by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,083 shares of the company’s stock after purchasing an additional 3,246 shares during the period. Eli Lilly and Company comprises 1.4% of Vinva Investment Management Ltd’s holdings, making the stock its 8th largest position. Vinva Investment Management Ltd’s holdings in Eli Lilly and Company were worth $31,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $2,138,000. Chesley Taft & Associates LLC raised its stake in shares of Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after buying an additional 1,163 shares during the period. OMNI 360 Wealth Inc. bought a new stake in shares of Eli Lilly and Company in the second quarter valued at $239,000. Long Run Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter valued at $209,000. Finally, Essex Financial Services Inc. raised its stake in shares of Eli Lilly and Company by 5.8% in the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $788.35 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $748.40 billion, a PE ratio of 85.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43. The business’s 50-day moving average price is $856.96 and its 200-day moving average price is $869.83. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LLY. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price on the stock. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Bank of America dropped their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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.