60,000 Shares in Eli Lilly and Company $LLY Purchased by Southpoint Capital Advisors LP

Key Points

• Southpoint Capital Advisors LP has acquired a new stake in Eli Lilly and Company, purchasing 60,000 shares worth approximately $49.56 million during the first quarter.
• Eli Lilly reported strong quarterly earnings, with an EPS of $6.31, surpassing estimates and showing a 37.6% revenue increase year-over-year.
• The company has declared a quarterly dividend of $1.50, resulting in a $6.00 annualized dividend with a yield of 0.8% for shareholders.

Southpoint Capital Advisors LP acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 60,000 shares of the company's stock, valued at approximately $49,555,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after purchasing an additional 1,730 shares during the period. Revolve Wealth Partners LLC grew its position in Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after purchasing an additional 40 shares during the period. Orion Capital Management LLC grew its position in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after purchasing an additional 40 shares during the period. Bank Pictet & Cie Europe AG grew its position in Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after purchasing an additional 2,568 shares during the period. Finally, Breed s Hill Capital LLC grew its position in shares of Eli Lilly and Company by 212.0% during the 4th quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock valued at $1,101,000 after acquiring an additional 969 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LLY shares. HSBC upgraded Eli Lilly and Company from a "reduce" rating to a "hold" rating and raised their target price for the company from $675.00 to $700.00 in a research report on Wednesday, August 27th. Leerink Partners reissued a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Cantor Fitzgerald lowered their target price on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. Guggenheim reduced their price target on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $950.17.

Insider Buying and Selling

In other news, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the purchase, the director owned 74,578 shares of the company's stock, valued at $47,903,686.74. This represents a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This trade represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 4,514 shares of company stock valued at $2,894,841. 0.14% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $1.08 during mid-day trading on Wednesday, hitting $736.27. The stock had a trading volume of 2,220,178 shares, compared to its average volume of 6,612,480. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $954.00. The stock has a market capitalization of $696.85 billion, a price-to-earnings ratio of 48.12, a P/E/G ratio of 1.02 and a beta of 0.47. The company has a 50 day simple moving average of $745.91 and a 200-day simple moving average of $783.42. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 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 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%. Eli Lilly and Company's revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share 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. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. Eli Lilly and Company's payout ratio is presently 39.22%.

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.