AustralianSuper Pty Ltd Makes New Investment in Eli Lilly and Company (NYSE:LLY)

AustralianSuper Pty Ltd acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,193 shares of the company's stock, valued at approximately $10,070,000.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Capital International Investors raised its holdings in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after buying an additional 1,493,673 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Guggenheim increased their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Stock Up 1.3%

Shares of NYSE LLY opened at $771.78 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm's fifty day moving average is $767.03 and its 200 day moving average is $800.02. The company has a market cap of $731.45 billion, a price-to-earnings ratio of 62.80, a PEG ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 earnings per share. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

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.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.