Eli Lilly and Company (NYSE:LLY) is Salem Investment Counselors Inc.’s 9th Largest Position

Salem Investment Counselors Inc. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% during the first quarter, HoldingsChannel.com reports. The firm owned 72,338 shares of the company’s stock after buying an additional 1,961 shares during the period. Eli Lilly and Company accounts for 1.8% of Salem Investment Counselors Inc.’s portfolio, making the stock its 9th biggest position. Salem Investment Counselors Inc.’s holdings in Eli Lilly and Company were worth $56,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LLY. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the period. Capital World Investors grew its stake in Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Morgan Stanley increased its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $5,992,890,000. Finally, Capital Research Global Investors raised its position in Eli Lilly and Company by 4.5% during the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after buying an additional 325,342 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, June 17th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Truist Financial lifted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Citigroup raised their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Bank of America lifted their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $803.50.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the transaction, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the transaction, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 762,804 shares of company stock worth $648,109,138. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $883.88 on Monday. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $905.45. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market cap of $840.05 billion, a price-to-earnings ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The business has a fifty day moving average of $798.59 and a two-hundred day moving average of $729.89.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the company earned $1.62 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. Eli Lilly and Company’s dividend payout ratio is currently 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.