Norden Group LLC Has $28.86 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Norden Group LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 2,105.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 37,098 shares of the company’s stock after purchasing an additional 35,416 shares during the period. Norden Group LLC’s holdings in Eli Lilly and Company were worth $28,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Lipe & Dalton bought a new position in Eli Lilly and Company during the fourth quarter worth $26,000. Tidemark LLC bought a new position in Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter worth $37,000. Finally, St. Johns Investment Management Company LLC increased its position in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the transaction, the insider now directly owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the sale, the insider now directly owns 97,299,772 shares in the company, valued at approximately $89,059,454,309.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 858,742 shares of company stock worth $735,573,781. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.9 %

Shares of NYSE LLY opened at $898.10 on Friday. The firm’s 50-day simple moving average is $824.60 and its 200 day simple moving average is $746.69. The company has a market cap of $853.56 billion, a price-to-earnings ratio of 132.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.41. 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 has a 12-month low of $434.34 and a 12-month high of $918.50.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.76 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 Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LLY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a report on Wednesday. Citigroup boosted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Argus boosted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.