BI Asset Management Fondsmaeglerselskab A S Purchases 15,018 Shares of Eli Lilly and Company (NYSE:LLY)

BI Asset Management Fondsmaeglerselskab A S grew its position in Eli Lilly and Company (NYSE:LLY) by 39.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,210 shares of the company’s stock after acquiring an additional 15,018 shares during the period. Eli Lilly and Company accounts for 0.8% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 28th largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Eli Lilly and Company were worth $41,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the period. Capital World Investors lifted its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $5,992,890,000. Capital Research Global Investors increased its holdings in Eli Lilly and Company by 4.5% in the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after purchasing an additional 325,342 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold 1,004,704 shares of company stock worth $869,479,116 over the last three months. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock traded up $7.78 during trading hours on Wednesday, reaching $940.28. The stock had a trading volume of 846,171 shares, compared to its average volume of 2,922,015. The stock has a market capitalization of $893.65 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41. The stock has a 50-day simple moving average of $838.34 and a 200 day simple moving average of $757.52. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $940.83. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the business posted $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, July 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Bank of America reiterated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $816.78.

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.