11,324,406 Shares in Eli Lilly and Company $LLY Purchased by Norges Bank

Norges Bank purchased a new position in Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,324,406 shares of the company’s stock, valued at approximately $8,827,714,000. Eli Lilly and Company accounts for approximately 1.1% of Norges Bank’s investment portfolio, making the stock its 11th biggest holding. Norges Bank owned approximately 1.20% of Eli Lilly and Company as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 78,621.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares during the last quarter. Nuveen LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at about $4,613,912,000. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eli Lilly and Company by 106.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after purchasing an additional 765,010 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.4%

NYSE LLY opened at $1,105.45 on Friday. The stock has a market cap of $1.05 trillion, a PE ratio of 72.25, a PEG ratio of 1.21 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $1,111.99. The company’s 50-day moving average price is $882.95 and its 200-day moving average price is $797.01. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s payout ratio is presently 29.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LLY shares. Wall Street Zen raised Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. UBS Group boosted their target price on shares of Eli Lilly and Company from $895.00 to $1,080.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Hsbc Global Res upgraded shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft dropped their price target on 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, August 11th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $830.00 price objective (down from $970.00) on shares of Eli Lilly and Company in a research note on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,047.50.

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.