Assenagon Asset Management S.A. Has $1.15 Billion 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 stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 106.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 1.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 7th largest position. Assenagon Asset Management S.A. owned 0.16% of Eli Lilly and Company worth $1,154,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LLY. WestEnd Advisors LLC increased its stake in shares of Eli Lilly and Company by 210.0% in 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 during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $27,000. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% in 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 during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $40,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

LLY traded down $9.41 during trading hours on Friday, hitting $753.52. The stock had a trading volume of 7,319,147 shares, compared to its average volume of 3,181,974. The company's fifty day simple moving average is $738.37 and its 200 day simple moving average is $770.79. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $939.86. The stock has a market cap of $713.18 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.47. 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 announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the firm posted $3.92 EPS. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company's dividend payout ratio (DPR) is 39.22%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LLY. HSBC raised Eli Lilly and Company from a "reduce" rating to a "hold" rating and upped their price objective for the company from $675.00 to $700.00 in a research note on Wednesday, August 27th. DZ Bank raised shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Guggenheim cut their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Finally, Berenberg Bank restated a "hold" rating and set a $830.00 price target (down from $970.00) on shares of Eli Lilly and Company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $939.61.

Insider Buying and Selling

In related news, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Skovronsky bought 1,000 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $634.40 per share, with a total value of $634,400.00. Following the acquisition, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 4,514 shares of company stock worth $2,894,841 in the last quarter. 0.13% of the stock is currently owned by company insiders.

About Eli Lilly and Company

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.