Acropolis Investment Management LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

19 Dec 2023, 15:32 by Tristan Rich · The Markets Daily

Acropolis Investment Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 25.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 717 shares of the company’s stock after buying an additional 146 shares during the period. Acropolis Investment Management LLC’s holdings in Eli Lilly and Company were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Eli Lilly and Company by 1.9% in the 2nd quarter. State Street Corp now owns 33,878,417 shares of the company’s stock valued at $15,888,300,000 after purchasing an additional 642,274 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Eli Lilly and Company by 1.6% in the first quarter. Wellington Management Group LLP now owns 20,324,267 shares of the company’s stock worth $6,979,760,000 after buying an additional 314,349 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Eli Lilly and Company by 533,336.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,059,681 shares of the company’s stock worth $8,938,609,000 after buying an additional 19,056,108 shares in the last quarter. Geode Capital Management LLC boosted its position in Eli Lilly and Company by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,205,501 shares of the company’s stock worth $7,111,568,000 after acquiring an additional 338,077 shares during the last quarter. Finally, Morgan Stanley grew its stake in Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after acquiring an additional 3,691,436 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LLY shares. UBS Group restated a “buy” rating and set a $710.00 target price (up from $612.00) on shares of Eli Lilly and Company in a report on Friday, October 20th. Morgan Stanley boosted their price objective on Eli Lilly and Company from $673.00 to $722.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Deutsche Bank Aktiengesellschaft started coverage on Eli Lilly and Company in a report on Thursday, November 9th. They set a “hold” rating and a $535.00 price target on the stock. Bank of America upped their price objective on shares of Eli Lilly and Company from $600.00 to $700.00 in a report on Friday, October 6th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $578.48.

Check Out Our Latest Research Report on Eli Lilly and Company

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $580.00 on Tuesday. The stock has a market capitalization of $550.60 billion, a price-to-earnings ratio of 105.07, a price-to-earnings-growth ratio of 3.48 and a beta of 0.33. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.05 and a quick ratio of 0.82. The business has a 50-day moving average of $589.77 and a 200 day moving average of $533.23. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $629.97.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.18. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. As a group, sell-side analysts forecast that Eli Lilly and Company will post 6.61 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Thursday, February 15th will be paid a $1.30 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.20 annualized dividend and a dividend yield of 0.90%. Eli Lilly and Company’s payout ratio is 81.88%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 215,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $605.44, for a total value of $130,169,600.00. Following the completion of the transaction, the insider now directly owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Lilly Endowment Inc sold 215,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the sale, the insider now directly owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 670 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $571.10, for a total transaction of $382,637.00. Following the completion of the transaction, the chief accounting officer now owns 4,708 shares of the company’s stock, valued at approximately $2,688,738.80. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.