Kovitz Investment Group Partners LLC Acquires 18,443 Shares of Eli Lilly and Company (NYSE:LLY)

Kovitz Investment Group Partners LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 63.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,584 shares of the company's stock after purchasing an additional 18,443 shares during the period. Kovitz Investment Group Partners LLC's holdings in Eli Lilly and Company were worth $39,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. lifted its stake in shares of Eli Lilly and Company by 17.3% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 14,258 shares of the company's stock valued at $11,776,000 after acquiring an additional 2,100 shares during the last quarter. Oak Ridge Investments LLC lifted its stake in shares of Eli Lilly and Company by 6.1% in the 1st quarter. Oak Ridge Investments LLC now owns 58,613 shares of the company's stock valued at $48,409,000 after acquiring an additional 3,370 shares during the last quarter. OneAscent Investment Solutions LLC bought a new position in shares of Eli Lilly and Company in the 1st quarter valued at $203,000. Vestmark Advisory Solutions Inc. lifted its stake in shares of Eli Lilly and Company by 95.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 23,702 shares of the company's stock valued at $19,576,000 after acquiring an additional 11,591 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Eli Lilly and Company by 54.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 222,962 shares of the company's stock valued at $184,147,000 after acquiring an additional 78,152 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other news, EVP Daniel Skovronsky bought 1,000 shares of the company's 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 transaction, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabrielle Sulzberger bought 117 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the transaction, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Price Performance

LLY stock opened at $660.41 on Thursday. The stock has a market capitalization of $625.05 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The company's 50-day moving average is $767.52 and its 200-day moving average is $796.25. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business's revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.92 EPS. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 39.22%.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Leerink Partners reiterated a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 7th. UBS Group decreased their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a report on Friday, August 8th. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Finally, Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $964.88.

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.

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