SouthState Corp Buys 891 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• SouthState Corp increased its stake in **Eli Lilly and Company** by **8.5%**, bringing its total holdings to **11,321 shares**, valued at **$9,350,000**.
• Eli Lilly reported earnings of **$6.31** per share for the last quarter, exceeding analysts' expectations by **$0.72**, with a **37.6%** increase in revenue year-over-year.
• The company's quarterly dividend will be **$1.50**, representing a **1.0% yield**, and will be paid to investors on record as of **August 15th**.

SouthState Corp raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,321 shares of the company's stock after acquiring an additional 891 shares during the quarter. SouthState Corp's holdings in Eli Lilly and Company were worth $9,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Capital Research Global Investors grew its holdings 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 worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of 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 valued at $7,294,025,000 after buying an additional 1,204,337 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $15.71 on Friday, reaching $625.15. The company's stock had a trading volume of 14,089,857 shares, compared to its average volume of 5,397,104. 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 stock has a market capitalization of $591.68 billion, a P/E ratio of 40.86, a PEG ratio of 0.87 and a beta of 0.44. The stock's 50 day simple moving average is $774.10 and its two-hundred day simple moving average is $799.34. 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 posted 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 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 firm's revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.92 earnings per share. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LLY shares. Guggenheim raised their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Leerink Partnrs downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One equities 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $984.41.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.14% of the company's stock.

Eli Lilly and 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.