BTC Capital Management Inc. Takes Position in Eli Lilly and Company (NYSE:LLY)

BTC Capital Management Inc. purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,841 shares of the company’s stock, valued at approximately $1,432,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Eli Lilly and Company during the fourth quarter worth about $5,992,890,000. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the period. Sapient Capital LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $682,139,000. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after acquiring an additional 659,838 shares during the period. Finally, Comerica Bank bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $345,781,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LLY. Jefferies Financial Group boosted their price objective on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research report on Friday, June 7th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Truist Financial raised their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Argus increased their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $803.50.

Eli Lilly and Company Stock Down 0.2 %

Shares of LLY opened at $883.88 on Friday. The stock’s 50-day moving average price is $798.59 and its two-hundred day moving average price is $728.91. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $905.45. The company has a market capitalization of $840.05 billion, a PE ratio of 130.17, a PEG ratio of 1.93 and a beta of 0.36. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders sold 762,804 shares of company stock valued at $648,109,138 over the last quarter. Insiders own 0.13% of the company’s stock.

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.