ING Groep NV Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Key Points

• ING Groep NV increased its stake in Eli Lilly by 22.8%, now holding 131,811 shares valued at approximately $108.86 million, making it the company's 26th largest position.
• Eli Lilly recently reported a EPS of $3.34 for the quarter, which missed estimates and showed a 45.2% year-over-year revenue growth, reaching $12.73 billion.
• The company declared a quarterly dividend of $1.50, translating to an annual yield of 0.8%, with a payout ratio of 48.82%.

ING Groep NV raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,811 shares of the company's stock after acquiring an additional 24,475 shares during the period. Eli Lilly and Company makes up 0.8% of ING Groep NV's investment portfolio, making the stock its 26th largest position. ING Groep NV's holdings in Eli Lilly and Company were worth $108,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Knightsbridge Asset Management LLC lifted its position in Eli Lilly and Company by 1.9% during 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 raised its position in shares of 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 valued at $1,933,000 after buying an additional 40 shares in the last quarter. Prism Advisors Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth $207,000. CSM Advisors LLC grew its position 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 worth $807,000 after acquiring an additional 245 shares in the last quarter. Finally, Bfsg LLC grew its position in Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $761.47 on Monday. The stock has a fifty day moving average of $775.51 and a 200 day moving average of $800.52. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a market capitalization of $721.68 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. The company has a quick ratio of 1.06, a current ratio of 1.37 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, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 earnings per share. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LLY shares. Guggenheim lifted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

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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