Eli Lilly and Company (NYSE:LLY) Shares Acquired by abrdn plc

abrdn plc grew its stake in Eli Lilly and Company (NYSE:LLY) by 28.3% in the second quarter, Holdings Channel reports. The fund owned 808,715 shares of the company’s stock after purchasing an additional 178,478 shares during the period. abrdn plc’s holdings in Eli Lilly and were worth $185,617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Marcum Wealth LLC increased its stake in shares of Eli Lilly and by 4.6% in the 2nd quarter. Marcum Wealth LLC now owns 4,272 shares of the company’s stock worth $981,000 after acquiring an additional 187 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Eli Lilly and by 22.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 63,398 shares of the company’s stock worth $14,551,000 after acquiring an additional 11,698 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Eli Lilly and by 4.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,331,541 shares of the company’s stock worth $305,615,000 after acquiring an additional 57,769 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Eli Lilly and by 3.5% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 14,759 shares of the company’s stock worth $3,388,000 after acquiring an additional 504 shares during the last quarter. Finally, Rock Creek Group LP increased its stake in shares of Eli Lilly and by 35.8% in the 2nd quarter. Rock Creek Group LP now owns 1,291 shares of the company’s stock worth $296,000 after acquiring an additional 340 shares during the last quarter. 81.65% of the stock is owned by institutional investors and hedge funds.

LLY has been the subject of a number of research analyst reports. Cowen increased their price target on Eli Lilly and from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, August 30th. Truist initiated coverage on Eli Lilly and in a report on Tuesday, July 27th. They set a “buy” rating and a $262.00 price target for the company. The Goldman Sachs Group increased their price target on Eli Lilly and from $252.00 to $270.00 and gave the stock a “conviction-buy” rating in a report on Monday, June 14th. Cantor Fitzgerald raised their target price on Eli Lilly and from $245.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Finally, Mizuho raised their target price on Eli Lilly and from $250.00 to $279.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $250.41.

In other news, major shareholder Lilly Endowment Inc sold 12,898 shares of the firm’s stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $237.51, for a total transaction of $3,063,403.98. Following the sale, the insider now owns 109,400,402 shares of the company’s stock, valued at approximately $25,983,689,479.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,044,132 shares of company stock worth $257,735,592 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Shares of LLY traded up $3.27 during midday trading on Wednesday, hitting $236.36. The company had a trading volume of 83,651 shares, compared to its average volume of 3,539,611. The company’s 50-day simple moving average is $251.93 and its 200-day simple moving average is $218.56. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.89 and a current ratio of 1.15. The firm has a market capitalization of $226.68 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.86 and a beta of 0.25. Eli Lilly and Company has a 1 year low of $129.21 and a 1 year high of $275.87.

Eli Lilly and (NYSE:LLY) last announced its quarterly earnings data on Monday, August 2nd. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.02). Eli Lilly and had a net margin of 22.71% and a return on equity of 119.12%. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 7.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, August 12th. Eli Lilly and’s dividend payout ratio (DPR) is presently 42.88%.

Eli Lilly and Profile

Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.

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Institutional Ownership by Quarter for Eli Lilly and (NYSE:LLY)

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