Jackson Square Capital LLC Has $14.82 Million Position in Eli Lilly and Company (NYSE:LLY)

Jackson Square Capital LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,200 shares of the company’s stock after selling 3,677 shares during the quarter. Eli Lilly and Company accounts for approximately 3.6% of Jackson Square Capital LLC’s holdings, making the stock its 6th biggest holding. Jackson Square Capital LLC’s holdings in Eli Lilly and Company were worth $14,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beck Bode LLC bought a new position in Eli Lilly and Company during the second quarter valued at $15,036,000. XTX Topco Ltd purchased a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $546,000. Pacer Advisors Inc. grew its stake in shares of Eli Lilly and Company by 5.8% during the second quarter. Pacer Advisors Inc. now owns 68,017 shares of the company’s stock valued at $61,581,000 after buying an additional 3,713 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Eli Lilly and Company by 1.9% in the second quarter. Westwood Holdings Group Inc. now owns 3,912 shares of the company’s stock worth $3,542,000 after buying an additional 73 shares during the period. Finally, Kowal Investment Group LLC boosted its holdings in Eli Lilly and Company by 16.7% during the 2nd quarter. Kowal Investment Group LLC now owns 1,287 shares of the company’s stock valued at $1,165,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price for the company. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Price Performance

LLY stock opened at $726.24 on Monday. The business’s 50-day moving average is $781.14 and its two-hundred day moving average is $854.35. The firm has a market capitalization of $689.43 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.66 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $612.70 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Analysts anticipate that Eli Lilly and Company will post 13.14 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its board has initiated a stock buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is presently 64.86%.

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.