Element Capital Management LLC Buys Shares of 3,300 Eli Lilly and Company (NYSE:LLY)

Element Capital Management LLC bought a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,300 shares of the company's stock, valued at approximately $2,726,000.

Other institutional investors also recently bought and sold shares of the company. WestEnd Advisors LLC raised its holdings in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department raised its holdings in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter valued at about $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC raised its holdings in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on LLY shares. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim lowered their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $964.88.

Eli Lilly and Company Stock Up 3.8%

LLY stock opened at $685.27 on Friday. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The company has a market cap of $648.58 billion, a PE ratio of 44.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The business's 50-day simple moving average is $765.92 and its 200 day simple moving average is $795.40. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the business earned $3.92 earnings per share. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 39.22%.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gabrielle Sulzberger purchased 117 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, with a total value of $75,018.06. Following the purchase, the director owned 2,703 shares of the company's stock, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is owned by company insiders.

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.

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.