Geode Capital Management LLC Purchases 85,823 Shares of Eli Lilly and Company (NYSE:LLY)

Geode Capital Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,090,971 shares of the company’s stock after acquiring an additional 85,823 shares during the quarter. Eli Lilly and Company accounts for approximately 1.2% of Geode Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Geode Capital Management LLC’s holdings in Eli Lilly and Company were worth $15,089,563,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Savoie Capital LLC lifted its position in shares of Eli Lilly and Company by 7.7% in the third quarter. Savoie Capital LLC now owns 18,216 shares of the company’s stock valued at $16,138,000 after buying an additional 1,300 shares during the last quarter. Valued Retirements Inc. bought a new stake in Eli Lilly and Company in the 3rd quarter valued at $328,000. 3Chopt Investment Partners LLC lifted its holdings in Eli Lilly and Company by 35.6% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 5,078 shares of the company’s stock valued at $4,499,000 after purchasing an additional 1,332 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Eli Lilly and Company by 10.2% during the third quarter. Prestige Wealth Management Group LLC now owns 594 shares of the company’s stock worth $526,000 after purchasing an additional 55 shares during the period. Finally, Brophy Wealth Management LLC acquired a new position in shares of Eli Lilly and Company in the third quarter valued at $1,939,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $802.94 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a market capitalization of $762.25 billion, a P/E ratio of 86.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The stock has a fifty day moving average of $841.04 and a 200-day moving average of $871.97.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, sell-side analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.75%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Eli Lilly and Company announced that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on LLY shares. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.