T. Rowe Price Investment Management Inc. Buys 324,598 Shares of Eli Lilly and Company $LLY

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Eli Lilly and Company by 41.0% in the first quarter, acquiring an additional 324,598 shares for a total ownership of 1,115,376 shares valued at approximately $921 million.
• Eli Lilly Company's stock opened at $703.57, with a 12-month high of $972.53 and strong quarterly earnings reporting $6.31 EPS, exceeding the consensus estimate of $5.59.
• The company announced a quarterly dividend of $1.50 per share, representing a 0.9% dividend yield, with a payout ratio of 39.22%.

T. Rowe Price Investment Management Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 41.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,115,376 shares of the company's stock after buying an additional 324,598 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.12% of Eli Lilly and Company worth $921,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in Eli Lilly and Company by 97.5% during the 1st 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after buying an additional 4,975,395 shares during the period. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% during 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. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 0.6% during the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company's stock worth $10,495,261,000 after purchasing an additional 81,587 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after purchasing an additional 1,204,337 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $703.5670 on Wednesday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The stock's 50 day moving average is $760.97 and its 200-day moving average is $793.02. 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 market capitalization of $665.90 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 0.97 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating 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 company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the prior 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. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities research 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. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LLY shares. Guggenheim cut their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Daiwa America downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $950.17.

Insider Buying and Selling

In other news, CEO David A. Ricks bought 1,632 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the transaction, the chief executive officer owned 546,601 shares of the company's stock, valued at $352,431,926.77. This trade represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the transaction, the executive vice president directly owned 137,660 shares of the company's stock, valued at $87,331,504. The trade was a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 4,514 shares of company stock valued at $2,894,841 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

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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