Nuveen LLC Invests $4.61 Billion in Eli Lilly and Company (NYSE:LLY)

Key Points

• Nuveen LLC made a significant investment in Eli Lilly by purchasing approximately $4.61 billion worth of shares, which makes up about 1.4% of its portfolio.
• Recent institutional activity includes Garner Asset Management and Brighton Jones LLC increasing their stakes in Eli Lilly, indicating strong interest from institutional investors.
• Eli Lilly reported impressive quarterly earnings, with $6.31 earnings per share exceeding estimates and revenue increasing by 37.6% year-over-year, contributing to a positive outlook among analysts.

Nuveen LLC acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,586,459 shares of the company's stock, valued at approximately $4,613,912,000. Eli Lilly and Company accounts for 1.4% of Nuveen LLC's investment portfolio, making the stock its 6th largest position. Nuveen LLC owned about 0.59% of Eli Lilly and Company at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advent Capital Management DE acquired a new position in Eli Lilly and Company in the 1st quarter worth approximately $2,891,000. Cooper Financial Group boosted its stake in shares of Eli Lilly and Company by 12.1% during the 1st quarter. Cooper Financial Group now owns 2,976 shares of the company's stock valued at $2,458,000 after buying an additional 321 shares during the period. King Luther Capital Management Corp boosted its stake in shares of Eli Lilly and Company by 4.5% during the 1st quarter. King Luther Capital Management Corp now owns 149,642 shares of the company's stock valued at $123,591,000 after buying an additional 6,484 shares during the period. MSA Advisors LLC boosted its stake in shares of Eli Lilly and Company by 212.5% during the 1st quarter. MSA Advisors LLC now owns 2,500 shares of the company's stock valued at $2,065,000 after buying an additional 1,700 shares during the period. Finally, Covington Investment Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 3.1% during the 1st quarter. Covington Investment Advisors Inc. now owns 21,285 shares of the company's stock valued at $17,579,000 after buying an additional 640 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In other news, Director Jamere Jackson bought 200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

LLY traded down $15.71 during trading on Friday, hitting $625.15. The stock had a trading volume of 14,089,857 shares, compared to its average volume of 5,397,104. The firm has a market cap of $591.68 billion, a PE ratio of 40.86, a P/E/G ratio of 0.87 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a 50 day simple moving average of $774.10 and a 200-day simple moving average of $799.34.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.92 EPS. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price for the company. Leerink Partners reissued a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday. Finally, Guggenheim lifted their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $984.41.

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.