Itau Unibanco Holding S.A. Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Itau Unibanco Holding S.A. purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,806 shares of the company’s stock, valued at approximately $2,540,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. grew its stake in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $921.49 on Friday. The firm’s 50 day simple moving average is $895.06 and its 200 day simple moving average is $838.32. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a market capitalization of $875.79 billion, a price-to-earnings ratio of 135.71, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

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

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 442,229 shares of company stock worth $410,002,456. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Bank of America increased their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Barclays boosted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three 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.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $977.35.

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.