Twinbeech Capital LP Takes $62.08 Million Position in Eli Lilly and Company (NYSE:LLY)

Twinbeech Capital LP purchased a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 80,411 shares of the company's stock, valued at approximately $62,077,000. Eli Lilly and Company makes up about 1.1% of Twinbeech Capital LP's holdings, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Proficio Capital Partners LLC grew its stake in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Capital International Investors grew its stake in shares of Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $1,240,653,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY traded down $22.73 during midday trading on Wednesday, hitting $724.28. The company had a trading volume of 4,054,290 shares, compared to its average volume of 3,606,606. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $686.43 billion, a PE ratio of 61.85, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The firm's 50-day simple moving average is $795.44 and its 200-day simple moving average is $804.82.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. UBS Group reduced their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

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.