Assenagon Asset Management S.A. Raises Stock Holdings in Eli Lilly and Company $LLY

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Eli Lilly by 106.8% during Q2, now holding 1,481,031 shares valued at approximately $1.15 billion.
• Eli Lilly's recent quarterly earnings report showed earnings per share of $6.31, outperforming estimates and reflecting a 37.6% year-over-year revenue increase, totaling $15.56 billion.
• The company has declared a quarterly dividend of $1.50 per share, translating to an annualized yield of 0.8%, with a payout ratio of 39.22%.

Assenagon Asset Management S.A. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 106.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,481,031 shares of the company's stock after acquiring an additional 765,010 shares during the quarter. Eli Lilly and Company makes up about 1.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 7th biggest position. Assenagon Asset Management S.A. owned about 0.16% of Eli Lilly and Company worth $1,154,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Hobbs Wealth Management LLC grew its holdings in Eli Lilly and Company by 0.8% in the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after purchasing an additional 12 shares during the last quarter. Hixon Zuercher LLC lifted its stake in Eli Lilly and Company by 0.7% in the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after buying an additional 12 shares in the last quarter. O Brien Wealth Partners LLC raised its holdings in Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the last quarter. Ascent Capital Management LLC raised its holdings in Eli Lilly and Company by 2.5% in the 1st quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock valued at $409,000 after acquiring an additional 12 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners increased its holdings in shares of Eli Lilly and Company by 2.7% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 493 shares of the company's stock worth $407,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 1.1%

Eli Lilly and Company stock traded down $8.32 during midday trading on Tuesday, hitting $746.64. 841,125 shares of the stock were exchanged, compared to its average volume of 4,078,986. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $706.66 billion, a PE ratio of 48.80, a P/E/G ratio of 1.05 and a beta of 0.47. The company has a fifty day simple moving average of $737.49 and a two-hundred day simple moving average of $769.01. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $939.30.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Activity at Eli Lilly and Company

In related news, CEO David A. Ricks acquired 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This represents a 0.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Erik Fyrwald bought 1,565 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares in the company, valued at $47,903,686.74. This represents a 2.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 4,514 shares of company stock worth $2,894,841. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on LLY. Daiwa America cut shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 17th. Berenberg Bank reiterated a "hold" rating and set a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Hsbc Global Res raised shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $939.61.

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.