Snider Financial Group Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Snider Financial Group acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY – Get Rating) in the fourth quarter, Holdings Channel reports. The firm acquired 8,659 shares of the company’s stock, valued at approximately $3,168,000. Eli Lilly and makes up approximately 1.8% of Snider Financial Group’s investment portfolio, making the stock its 19th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Eli Lilly and by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 72,588,317 shares of the company’s stock worth $23,471,432,000 after acquiring an additional 996,990 shares in the last quarter. State Street Corp increased its position in Eli Lilly and by 0.5% during the 3rd quarter. State Street Corp now owns 33,582,472 shares of the company’s stock valued at $10,858,892,000 after buying an additional 168,444 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Eli Lilly and by 21.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 24,839,322 shares of the company’s stock valued at $8,048,338,000 after buying an additional 4,412,664 shares in the last quarter. Jennison Associates LLC increased its position in Eli Lilly and by 3.6% during the 4th quarter. Jennison Associates LLC now owns 10,429,081 shares of the company’s stock valued at $3,815,375,000 after buying an additional 364,339 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Eli Lilly and by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 3,994,198 shares of the company’s stock valued at $1,461,238,000 after purchasing an additional 90,761 shares in the last quarter. 82.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Eli Lilly and from $440.00 to $500.00 in a research note on Friday. Societe Generale lowered Eli Lilly and from a “hold” rating to a “sell” rating and set a $278.00 price objective on the stock. in a report on Wednesday, February 15th. Jefferies Financial Group increased their price objective on Eli Lilly and from $290.00 to $310.00 and gave the company a “hold” rating in a report on Monday, April 3rd. 3M reiterated a “maintains” rating on shares of Eli Lilly and in a research note on Friday, April 28th. Finally, Truist Financial increased their price target on Eli Lilly and from $421.00 to $430.00 in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $425.05.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $335.82, for a total value of $67,164,000.00. Following the transaction, the insider now directly owns 102,748,810 shares in the company, valued at $34,505,105,374.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and news, CAO Donald A. Zakrowski sold 600 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $435.29, for a total transaction of $261,174.00. Following the transaction, the chief accounting officer now directly owns 5,978 shares in the company, valued at $2,602,163.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 200,000 shares of the company’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $335.82, for a total value of $67,164,000.00. Following the transaction, the insider now owns 102,748,810 shares in the company, valued at $34,505,105,374.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,303,605 shares of company stock valued at $497,320,473. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Price Performance

LLY traded down $3.52 on Friday, hitting $423.79. 886,624 shares of the company’s stock were exchanged, compared to its average volume of 3,178,395. Eli Lilly and Company has a fifty-two week low of $283.11 and a fifty-two week high of $454.95. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.67. The firm has a 50-day moving average price of $386.14 and a 200-day moving average price of $362.10. The stock has a market cap of $402.29 billion, a price-to-earnings ratio of 68.24, a P/E/G ratio of 2.26 and a beta of 0.37.

Eli Lilly and (NYSE:LLY – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.11). The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.87 billion. Eli Lilly and had a return on equity of 61.42% and a net margin of 20.54%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 8.8 earnings per share for the current year.

Eli Lilly and Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Monday, May 15th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $4.52 annualized dividend and a dividend yield of 1.07%. Eli Lilly and’s payout ratio is 71.86%.

Eli Lilly and Profile

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Eli Lilly & Co engages in the discovery, development, manufacture, and sale of pharmaceutical products. The firm’s products consist of diabetes, oncology, immunology, neuroscience, and other products and therapies. The company was founded by Eli Lilly in May 1876 and is headquartered in Indianapolis, IN.