Eli Lilly and Company (NYSE:LLY) is LGT Fund Management Co Ltd.’s 10th Largest Position

LGT Fund Management Co Ltd. increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 89.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,724 shares of the company’s stock after buying an additional 8,367 shares during the period. Eli Lilly and Company comprises 2.0% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 10th largest holding. LGT Fund Management Co Ltd.’s holdings in Eli Lilly and Company were worth $16,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LLY. Norges Bank purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. GQG Partners LLC grew its holdings in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Eli Lilly and Company by 8.1% in the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 661,900 shares of company stock worth $604,721,602 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Argus raised their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Trading Up 0.6 %

Shares of LLY stock opened at $908.39 on Tuesday. The company has a market capitalization of $863.36 billion, a P/E ratio of 133.78, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $895.85 and its two-hundred day moving average is $829.55. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities analysts forecast that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.