Simplify Asset Management Inc. Raises Position in Eli Lilly and Company (NYSE:LLY)

Simplify Asset Management Inc. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 41.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,412 shares of the company’s stock after acquiring an additional 3,371 shares during the quarter. Eli Lilly and Company accounts for approximately 0.7% of Simplify Asset Management Inc.’s portfolio, making the stock its 14th largest holding. Simplify Asset Management Inc.’s holdings in Eli Lilly and Company were worth $10,332,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LLY. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $262,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Eli Lilly and Company in the first quarter valued at $6,916,000. M&G Plc purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth $8,896,000. IPG Investment Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth $351,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $9,878,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $915.04 on Friday. The company has a market cap of $869.66 billion, a P/E ratio of 134.76, a P/E/G ratio of 2.79 and a beta of 0.42. The business has a fifty day simple moving average of $895.62 and a 200-day simple moving average of $836.99. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 442,229 shares of company stock worth $410,002,456 in the last quarter. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Three 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 company has an average rating of “Moderate Buy” and an average target price of $977.35.

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.