Eli Lilly and Company (NYSE:LLY) is Exome Asset Management LLC’s Largest Position

Exome Asset Management LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,447 shares of the company’s stock after buying an additional 747 shares during the period. Eli Lilly and Company makes up approximately 6.2% of Exome Asset Management LLC’s portfolio, making the stock its biggest holding. Exome Asset Management LLC’s holdings in Eli Lilly and Company were worth $9,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. Oddo BHF Asset Management Sas bought a new position in Eli Lilly and Company in the 3rd quarter valued at $34,328,000. Chesley Taft & Associates LLC raised its position in Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after acquiring an additional 1,163 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Eli Lilly and Company in the second quarter valued at about $239,000. Long Run Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth approximately $209,000. Finally, Essex Financial Services Inc. raised its holdings in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after purchasing an additional 1,556 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Bank of America reiterated a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday. Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Eli Lilly and Company Trading Up 0.9 %

Shares of Eli Lilly and Company stock opened at $789.27 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The firm has a market cap of $749.27 billion, a PE ratio of 85.33, a PEG ratio of 3.02 and a beta of 0.41. The company has a 50 day simple moving average of $833.49 and a two-hundred day simple moving average of $870.65.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Analysts expect that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Eli Lilly and Company declared that its Board of Directors has initiated a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

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.