Rathbones Group PLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Rathbones Group PLC increased its stake in Eli Lilly and Company by 18.1%, now holding 224,179 shares valued at $185.15 million, making it the 28th largest position in their portfolio.
• Several major investors, including PNC Financial Services Group and Vanguard Group, have significantly boosted their positions in Eli Lilly, indicating strong institutional interest.
• Eli Lilly reported $6.31 EPS for the latest quarter, exceeding expectations and reflecting a 37.6% increase in revenue from the previous year.

Rathbones Group PLC boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 18.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,179 shares of the company's stock after purchasing an additional 34,433 shares during the quarter. Eli Lilly and Company comprises 0.9% of Rathbones Group PLC's investment portfolio, making the stock its 28th biggest position. Rathbones Group PLC's holdings in Eli Lilly and Company were worth $185,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WestEnd Advisors LLC increased its holdings in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CEO David A. Ricks purchased 1,632 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on LLY. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reduced their target price on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $964.88.

Eli Lilly and Company Trading Up 3.8%

Shares of LLY traded up $24.78 during trading hours on Thursday, reaching $685.27. 8,333,591 shares of the company traded hands, compared to its average volume of 4,136,195. The company's fifty day moving average price is $767.52 and its two-hundred day moving average price is $796.25. The company has a market capitalization of $648.58 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53.

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

Eli Lilly and Company Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 39.22%.

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.