Prudential PLC Purchases 6,731 Shares of Eli Lilly and Company (NYSE:LLY)

Prudential PLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,930 shares of the company’s stock after purchasing an additional 6,731 shares during the period. Eli Lilly and Company comprises 0.5% of Prudential PLC’s investment portfolio, making the stock its 23rd largest holding. Prudential PLC’s holdings in Eli Lilly and Company were worth $66,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance increased its holdings in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP grew its position in shares of Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the last quarter. Capital Planning LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Eli Lilly and Company during the first quarter worth about $6,916,000. Finally, M&G Plc acquired a new position in shares of Eli Lilly and Company in the first quarter worth approximately $8,896,000. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 661,900 shares of company stock valued at $604,721,602. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Berenberg Bank upped their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $910.00 on Monday. The company has a market capitalization of $864.89 billion, a P/E ratio of 132.95, a P/E/G ratio of 2.73 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a fifty day moving average of $895.97 and a 200-day moving average of $828.57.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities research analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.