Eli Lilly and Company (NYSE:LLY) Shares Purchased by Rossmore Private Capital

Key Points

• Rossmore Private Capital increased its holdings in Eli Lilly and Company by 4.8% in Q1, making it the firm's 10th largest position with a value of approximately $16.97 million.
• Several institutional investors, including WestEnd Advisors and Citizens National Bank Trust Department, significantly increased their stakes in Eli Lilly during the same quarter, indicating growing confidence in the company.
• Eli Lilly recently reported Q2 earnings of $6.31 EPS, surpassing estimates and reflecting a 37.6% increase in year-over-year revenue to $15.56 billion.

Rossmore Private Capital boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,543 shares of the company's stock after acquiring an additional 934 shares during the quarter. Eli Lilly and Company accounts for about 2.1% of Rossmore Private Capital's holdings, making the stock its 10th biggest holding. Rossmore Private Capital's holdings in Eli Lilly and Company were worth $16,967,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC increased its stake in Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares during the last quarter. LS Investment Advisors LLC increased its stake in Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares during the last quarter. Prism Advisors Inc. purchased a new position in Eli Lilly and Company in the first quarter valued at approximately $207,000. CSM Advisors LLC increased its stake in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the last quarter. Finally, Hemington Wealth Management increased its stake in Eli Lilly and Company by 14.4% in the first quarter. Hemington Wealth Management now owns 985 shares of the company's stock valued at $813,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Activity at Eli Lilly and Company

In other news, Director J Erik Fyrwald purchased 1,565 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares of the company's stock, valued at $47,903,686.74. This represents a 2.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $634.40 per share, with a total value of $634,400.00. Following the purchase, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LLY shares. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Guggenheim dropped their price target on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, UBS Group dropped their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $964.88.

Eli Lilly and Company Stock Performance

LLY traded up $19.11 during trading on Friday, hitting $702.04. The stock had a trading volume of 4,716,743 shares, compared to its average volume of 4,139,078. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a market capitalization of $664.45 billion, a P/E ratio of 45.82, a PEG ratio of 0.93 and a beta of 0.44. The company's 50-day moving average price is $765.92 and its 200 day moving average price is $795.40. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53.

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 (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. The company had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.92 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 39.22%.

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.