Eli Lilly and Company (NYSE:LLY) Stock Position Lifted by Sit Investment Associates Inc.

Sit Investment Associates Inc. lifted its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,362 shares of the company's stock after purchasing an additional 1,144 shares during the quarter. Sit Investment Associates Inc.'s holdings in Eli Lilly and Company were worth $25,076,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% during 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 in the last quarter. Citizens National Bank Trust Department boosted its stake in Eli Lilly and Company by 180.0% during 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 in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter valued at about $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC boosted its stake in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price 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 of the company's stock, valued at $87,331,504. This represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David A. Ricks bought 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 4,514 shares of company stock worth $2,894,841. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LLY. UBS Group decreased their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reduced their target price on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $964.88.

Eli Lilly and Company Stock Up 3.3%

Shares of LLY stock opened at $660.41 on Thursday. The company has a market capitalization of $625.05 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 0.90 and a beta of 0.44. The stock's 50 day simple moving average is $767.52 and its 200 day simple moving average is $796.25. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. 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 released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company's revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.92 EPS. As a group, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm 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%.

Eli Lilly and 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.

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