Connable Office Inc. Grows Holdings in Eli Lilly and Company $LLY

Connable Office Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,672 shares of the company’s stock after buying an additional 84 shares during the quarter. Connable Office Inc.’s holdings in Eli Lilly and Company were worth $3,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. PNC Financial Services Group Inc. increased its position in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. Nuveen LLC purchased a new stake in Eli Lilly and Company in the first quarter worth approximately $4,613,912,000. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Eli Lilly and Company by 106.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after acquiring an additional 765,010 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Eli Lilly and Company by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Eli Lilly and Company news, CEO David A. Ricks bought 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the transaction, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Erik Fyrwald acquired 1,565 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the purchase, the director directly owned 74,578 shares of the company’s stock, valued at $47,903,686.74. This represents a 2.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $862.96 on Monday. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $935.63. The stock has a market capitalization of $816.75 billion, a P/E ratio of 56.40, a P/E/G ratio of 1.21 and a beta of 0.47. The company’s 50-day moving average is $780.74 and its 200 day moving average is $771.97. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.60. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business’s revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the stock an “overweight” rating in a research report on Friday. Leerink Partnrs downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. UBS Group lowered their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $940.00.

About Eli Lilly and Company

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.