SVB Wealth LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

SVB Wealth LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,907 shares of the company’s stock after acquiring an additional 1,055 shares during the period. SVB Wealth LLC’s holdings in Eli Lilly and Company were worth $15,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Swedbank AB purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $932,797,000. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. GQG Partners LLC raised its holdings 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 worth $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Capital International Investors boosted its position in Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after purchasing an additional 497,079 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LLY. Bank of America lifted their price target 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. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Trading Down 1.1 %

Shares of NYSE LLY traded down $10.04 on Friday, reaching $902.71. 3,439,999 shares of the company traded hands, compared to its average volume of 3,063,074. The stock has a market capitalization of $857.94 billion, a PE ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $895.97 and a 200 day moving average of $827.49.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts forecast that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34. Following the transaction, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 737,410 shares of company stock valued at $669,719,100. Company insiders own 0.13% of the company’s stock.

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.