Element Capital Management LLC Takes Position in Eli Lilly and Company (NYSE:LLY)

Element Capital Management LLC bought a new stake in Eli Lilly and Company (NYSE:LLY) in the first quarter, Holdings Channel reports. The institutional investor bought 3,300 shares of the company’s stock, valued at approximately $2,726,000.

A number of other institutional investors also recently modified their holdings of the company. Tobias Financial Advisors Inc. raised its stake in shares of Eli Lilly and Company by 4.1% in the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company’s stock valued at $237,000 after acquiring an additional 12 shares during the last quarter. Redwood Investments LLC raised its stake in shares of Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company’s stock valued at $1,705,000 after acquiring an additional 12 shares during the last quarter. Hobbs Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 0.8% in the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company’s stock valued at $1,205,000 after acquiring an additional 12 shares during the last quarter. Hixon Zuercher LLC raised its stake in shares of Eli Lilly and Company by 0.7% in the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company’s stock valued at $1,477,000 after acquiring an additional 12 shares during the last quarter. Finally, O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after acquiring an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $685.27 on Friday. The company has a fifty day moving average price of $765.92 and a two-hundred day moving average price of $795.40. 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 52 week low of $623.78 and a 52 week high of $972.53. The firm has a market capitalization of $648.58 billion, a PE ratio of 44.79, a P/E/G ratio of 0.93 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the business earned $3.92 EPS. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Insiders Place Their Bets

In other news, Director Gabrielle Sulzberger acquired 117 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the transaction, the director directly owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jamere Jackson acquired 200 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director owned 9,402 shares in the company, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 4,514 shares of company stock worth $2,894,841 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research report on Monday. Guggenheim dropped their price objective on shares of Eli Lilly and Company from $942.00 to $875.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Finally, Leerink Partners restated a “market perform” rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $964.88.

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.