Eli Lilly and Company (NYSE:LLY) Holdings Increased by Manhattan West Asset Management LLC

Key Points

• Manhattan West Asset Management LLC increased its holdings in Eli Lilly and Company by 24.8% during the first quarter, accumulating a total of 2,127 shares valued at approximately $1.76 million.
• Eli Lilly reported $6.31 EPS for the last quarter, exceeding analyst expectations of $5.59, with a revenue increase of 37.6% year-over-year, reaching $15.56 billion.
$1.50 per share, set to be distributed on September 10th, representing an annualized yield of 1.0%.

Manhattan West Asset Management LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,127 shares of the company's stock after purchasing an additional 423 shares during the period. Manhattan West Asset Management LLC's holdings in Eli Lilly and Company were worth $1,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. WestEnd Advisors LLC increased its position 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 worth $26,000 after acquiring an additional 21 shares in the last quarter. Citizens National Bank Trust Department boosted 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 purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company in the first quarter valued at $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at $43,000. Finally, O Brien Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Jamere Jackson acquired 200 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LLY. Guggenheim upped their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Erste Group Bank downgraded 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 reduced 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $990.89.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $15.71 during mid-day trading on Friday, hitting $625.15. The stock had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The stock has a market capitalization of $592.48 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 0.89 and a beta of 0.44. The company has a 50 day simple moving average of $774.10 and a 200-day simple moving average of $799.11. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm 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 98.25%. Eli Lilly and Company's quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the firm posted $3.92 EPS. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 1.0%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

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.