Del Sette Capital Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Del Sette Capital Management LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,925 shares of the company’s stock, valued at approximately $1,743,000. Eli Lilly and Company comprises approximately 1.4% of Del Sette Capital Management LLC’s portfolio, making the stock its 25th biggest holding.

A number of other large investors have also added to or reduced their stakes in LLY. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Capital World Investors raised its position 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 worth $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Norges Bank bought a new position in shares of Eli Lilly and Company in the 4th quarter worth $5,992,890,000. Capital Research Global Investors raised its position in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after acquiring an additional 453,939 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after acquiring an additional 335,560 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Argus upped their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group increased their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $961.76.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 876,900 shares of company stock worth $788,605,032 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $945.00 on Thursday. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a market cap of $898.13 billion, a PE ratio of 139.37, a P/E/G ratio of 2.91 and a beta of 0.41. The stock has a 50 day moving average price of $895.96 and a 200 day moving average price of $826.05.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts expect that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.