Eli Lilly and Company (NYSE:LLY) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 54.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 222,962 shares of the company's stock after buying an additional 78,152 shares during the quarter. Lord Abbett & CO. LLC's holdings in Eli Lilly and Company were worth $184,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Knightsbridge Asset Management LLC increased its stake in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares in the last quarter. LS Investment Advisors LLC increased its stake in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after buying an additional 40 shares in the last quarter. Prism Advisors Inc. purchased a new stake in Eli Lilly and Company during the 1st quarter worth approximately $207,000. CSM Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of Eli Lilly and Company by 14.4% during the 1st quarter. Hemington Wealth Management now owns 985 shares of the company's stock worth $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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LLY. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Cantor Fitzgerald set a $825.00 price objective on Eli Lilly and Company and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Leerink Partners reissued a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $964.88.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $660.41 on Thursday. 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 company has a market cap of $625.05 billion, a P/E ratio of 43.16, a PEG ratio of 0.90 and a beta of 0.44. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.53. The company has a 50-day moving average price of $767.52 and a 200 day moving average price of $796.25.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during 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 was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.92 earnings per share. Research analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend 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 39.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, Director J Erik Fyrwald acquired 1,565 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO David A. Ricks bought 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 4,514 shares of company stock valued at $2,894,841 in the last 90 days. 0.13% of the stock is owned by corporate 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.

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.