Kowal Investment Group LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Kowal Investment Group LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 18.5% during the first quarter, Holdings Channel reports. The firm owned 1,103 shares of the company’s stock after purchasing an additional 172 shares during the quarter. Kowal Investment Group LLC’s holdings in Eli Lilly and Company were worth $858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. International Assets Investment Management LLC increased its stake in shares of Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares during the period. Sapient Capital LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $682,139,000. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $345,781,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.0 %

Shares of LLY stock opened at $914.37 on Tuesday. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The stock has a market cap of $869.03 billion, a P/E ratio of 134.66, a P/E/G ratio of 1.97 and a beta of 0.41. The business has a fifty day simple moving average of $814.40 and a 200-day simple moving average of $740.86. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating 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 business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LLY shares. 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. Citigroup upped their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Bank of America reaffirmed a “buy” rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Finally, The Goldman Sachs Group increased their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the 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 sale, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the 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 sale, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 791,145 shares of company stock valued at $673,704,508 over the last quarter. Insiders own 0.13% of the company’s stock.

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.