Vestmark Advisory Solutions Inc. Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Vestmark Advisory Solutions Inc. increased its position in Eli Lilly and Company (NYSE:LLY) by 95.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,702 shares of the company’s stock after buying an additional 11,591 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Eli Lilly and Company were worth $19,576,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. WestEnd Advisors LLC increased its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department grew its stake in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LLY shares. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Cantor Fitzgerald set a $825.00 price target on Eli Lilly and Company and gave the company an “overweight” rating in a report on Wednesday. Finally, Leerink Partnrs lowered Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $964.88.

Insider Buying and Selling at Eli Lilly and Company

In other news, Director J Erik Fyrwald purchased 1,565 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the acquisition, the director directly owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jamere Jackson purchased 200 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $660.41 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a fifty day moving average price of $767.52 and a 200 day moving average price of $796.25. The company has a market cap of $625.05 billion, a P/E ratio of 43.16, a PEG ratio of 0.90 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the prior year, the firm posted $3.92 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 37.6% on a year-over-year basis. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. Eli Lilly and Company’s dividend payout ratio is 39.22%.

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.