KLP Kapitalforvaltning AS Acquires 5,100 Shares of Eli Lilly and Company (NYSE:LLY)

KLP Kapitalforvaltning AS increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 294,019 shares of the company's stock after purchasing an additional 5,100 shares during the quarter. Eli Lilly and Company accounts for 1.2% of KLP Kapitalforvaltning AS's holdings, making the stock its 13th biggest holding. KLP Kapitalforvaltning AS's holdings in Eli Lilly and Company were worth $242,833,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. WestEnd Advisors LLC raised its stake in Eli Lilly and Company by 210.0% in 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 during the last quarter. Citizens National Bank Trust Department grew its holdings 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 worth $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in Eli Lilly and Company during the first quarter worth about $40,000. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $48,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY traded up $14.29 during trading on Tuesday, reaching $776.47. The stock had a trading volume of 2,495,477 shares, compared to its average volume of 3,660,385. The firm has a market capitalization of $735.89 billion, a price-to-earnings ratio of 63.18, a price-to-earnings-growth ratio of 1.10 and a beta of 0.40. 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 has a 1-year low of $677.09 and a 1-year high of $972.53. The stock has a 50 day moving average of $767.03 and a two-hundred day moving average of $800.17.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company's revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LLY shares. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. Guggenheim boosted their target price 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 cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.