Erste Asset Management GmbH Makes New $35.62 Million Investment in Eli Lilly and Company (NYSE:LLY)

Erste Asset Management GmbH acquired a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,567 shares of the company's stock, valued at approximately $35,618,000.

Other institutional investors have also modified their holdings of the company. Plotkin Financial Advisors LLC bought a new stake in Eli Lilly and Company during the 3rd quarter valued at $845,000. Timber Creek Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 0.7% in the third quarter. Timber Creek Capital Management LLC now owns 12,632 shares of the company's stock valued at $11,191,000 after acquiring an additional 86 shares in the last quarter. Tradition Wealth Management LLC lifted its stake in Eli Lilly and Company by 14.0% in the third quarter. Tradition Wealth Management LLC now owns 1,403 shares of the company's stock worth $1,243,000 after acquiring an additional 172 shares during the period. Encompass More Asset Management bought a new position in Eli Lilly and Company during the 3rd quarter worth about $386,000. Finally, Acropolis Investment Management LLC increased its position in Eli Lilly and Company by 2.9% during the 3rd quarter. Acropolis Investment Management LLC now owns 1,666 shares of the company's stock valued at $1,476,000 after purchasing an additional 47 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LLY shares. Citigroup increased their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an "overweight" rating in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $1,007.94.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $7.16 during midday trading on Friday, hitting $795.35. The company's stock had a trading volume of 2,206,918 shares, compared to its average volume of 4,869,603. 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 fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm's 50 day moving average is $851.90 and its 200-day moving average is $870.26. The firm has a market cap of $755.04 billion, a P/E ratio of 85.98, a P/E/G ratio of 3.01 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 56.22%.

Eli Lilly and 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.