Menora Mivtachim Holdings LTD. Increases Stake in Eli Lilly and Company (NYSE:LLY)

Key Points

• Menora Mivtachim Holdings LTD. increased its stake in Eli Lilly and Company by 15.1%, owning 246,300 shares valued at approximately $203 million, making it the firm’s 25th largest holding.
• Eli Lilly reported record quarterly earnings with EPS of $6.31, surpassing estimates, and a 37.6% year-over-year revenue growth of $15.56 billion.
• The company declared a quarterly dividend of $1.50 per share, amounting to an annualized dividend yield of 0.9%.

Menora Mivtachim Holdings LTD. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,300 shares of the company's stock after buying an additional 32,400 shares during the period. Eli Lilly and Company comprises approximately 1.3% of Menora Mivtachim Holdings LTD.'s holdings, making the stock its 25th largest holding. Menora Mivtachim Holdings LTD.'s holdings in Eli Lilly and Company were worth $203,422,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LLY. PNC Financial Services Group Inc. grew its stake in Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Vanguard Group Inc. grew its stake in Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. GAMMA Investing LLC grew its stake in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Capital Research Global Investors grew its stake in Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Eli Lilly and Company by 14.6% in the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after acquiring an additional 1,204,337 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 2.5%

Shares of LLY stock opened at $701.51 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The company has a market cap of $663.95 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 0.95 and a beta of 0.44. The stock has a 50 day simple moving average of $764.55 and a 200-day simple moving average of $794.69. 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 issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the business earned $3.92 earnings per share. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 39.22%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LLY. DZ Bank raised Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a report on Monday, August 11th. Leerink Partners reissued a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday, August 7th. Guggenheim lowered their price target 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, Cantor Fitzgerald lowered their price target on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $964.88.

Insider Activity

In other news, Director Gabrielle Sulzberger purchased 117 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the transaction, the director owned 2,703 shares of the company's stock, valued at $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Erik Fyrwald purchased 1,565 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the transaction, the director directly owned 74,578 shares of the company's stock, valued at $47,903,686.74. This represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock valued at $2,894,841 in the last three months. Company insiders own 0.13% of the company's stock.

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.

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