Eli Lilly and Company (NYSE:LLY) is Connors Investor Services Inc.’s 9th Largest Position

Connors Investor Services Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,168 shares of the company’s stock after selling 15 shares during the quarter. Eli Lilly and Company comprises 2.3% of Connors Investor Services Inc.’s portfolio, making the stock its 9th biggest holding. Connors Investor Services Inc.’s holdings in Eli Lilly and Company were worth $21,881,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $6,916,000. M&G Plc bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $8,896,000. IPG Investment Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $9,878,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $924.05 on Tuesday. The stock has a market cap 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 current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a fifty day simple moving average of $897.24 and a 200-day simple moving average of $835.09.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share 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. Investors of record on Thursday, August 15th were issued 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 76.58%.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Citigroup started coverage on Eli Lilly and Company in a report on Friday. They issued a “buy” rating and a $1,060.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the transaction, the insider now directly owns 97,556,910 shares in the company, valued at approximately $88,033,404,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 451,900 shares of company stock worth $418,732,178 in the last three months. 0.13% of the stock is owned by company 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.