Abbot Financial Management Inc. Buys New Position in Eli Lilly and Company (NYSE:LLY)

Abbot Financial Management Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 228 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Eli Lilly and Company in the first quarter worth about $932,797,000. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares during the period. Wulff Hansen & CO. lifted its holdings in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the last quarter. GQG Partners LLC raised its stake in Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after acquiring an additional 497,079 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 451,900 shares of company stock valued at $418,732,178 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. Citigroup started coverage on shares of Eli Lilly and Company in a research note on Friday. They issued a “buy” rating and a $1,060.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Finally, Jefferies Financial Group upped their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Trading Up 0.0 %

LLY stock opened at $924.05 on Tuesday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The firm’s 50-day moving average is $897.24 and its 200 day moving average is $835.09. The company has a market capitalization of $878.22 billion, a PE ratio of 136.09, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.