CHURCHILL MANAGEMENT Corp Purchases New Position in Eli Lilly and Company (NYSE:LLY)

CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,889 shares of the company’s stock, valued at approximately $6,916,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LLY. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $26,000. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Tidemark LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $29,000. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $37,000. Finally, Optiver Holding B.V. purchased a new stake in Eli Lilly and Company in the third quarter worth about $36,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Argus upped 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 research note on Tuesday, May 14th. Jefferies Financial Group upped their target price on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. upped their target price on shares of 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. The Goldman Sachs Group upped their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $803.50.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 762,804 shares of company stock valued at $648,109,138 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.2 %

LLY opened at $883.88 on Friday. 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 has a 1-year low of $434.34 and a 1-year 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 firm’s 50 day simple moving average is $798.59 and its two-hundred day simple moving average is $728.91.

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

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $1.30 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $5.20 annualized dividend and a yield of 0.59%. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.