Eli Lilly and Company (NYSE:LLY) is LGT Fund Management Co Ltd.’s 9th Largest Position

LGT Fund Management Co Ltd. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,407 shares of the company’s stock after purchasing an additional 3,086 shares during the period. Eli Lilly and Company makes up approximately 2.1% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 9th largest position. LGT Fund Management Co Ltd.’s holdings in Eli Lilly and Company were worth $23,462,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Tobias Financial Advisors Inc. grew its position in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company’s stock worth $237,000 after buying an additional 12 shares during the period. Redwood Investments LLC grew its position in Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company’s stock worth $1,705,000 after buying an additional 12 shares during the period. Hobbs Wealth Management LLC grew its position in Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company’s stock worth $1,205,000 after buying an additional 12 shares during the period. Hixon Zuercher LLC grew its position in Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company’s stock worth $1,477,000 after buying an additional 12 shares during the period. Finally, O Brien Wealth Partners LLC grew its position in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after buying an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Leerink Partners reissued a “market perform” rating and set a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Finally, Guggenheim upped their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $977.65.

Insiders Place Their Bets

In other news, Director Jamere Jackson purchased 200 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $635.46 on Tuesday. The business’s 50-day simple moving average is $771.87 and its 200 day simple moving average is $798.30. The company has a market cap of $601.44 billion, a P/E ratio of 41.53, a PEG ratio of 0.87 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a one year low of $623.78 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the company earned $3.92 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 37.6% on a year-over-year basis. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 39.22%.

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.