Point72 Asia Singapore Pte. Ltd. Invests $19.09 Million in Eli Lilly and Company (NYSE:LLY)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,552 shares of the company's stock, valued at approximately $19,094,000. Eli Lilly and Company comprises about 3.6% of Point72 Asia Singapore Pte. Ltd.'s holdings, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its position in Eli Lilly and Company by 9.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,534 shares of the company's stock valued at $3,200,000 after buying an additional 315 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its holdings in Eli Lilly and Company by 3.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 604 shares of the company's stock valued at $547,000 after acquiring an additional 20 shares during the last quarter. HBW Advisory Services LLC increased its position in Eli Lilly and Company by 40.6% in the second quarter. HBW Advisory Services LLC now owns 917 shares of the company's stock worth $830,000 after purchasing an additional 265 shares during the period. ST Germain D J Co. Inc. raised its holdings in Eli Lilly and Company by 109.4% during the 2nd quarter. ST Germain D J Co. Inc. now owns 2,693 shares of the company's stock worth $2,438,000 after purchasing an additional 1,407 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $11,133,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other 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 sale, the chief accounting officer now directly owns 5,480 shares of the company's stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. Truist Financial lifted their price target on shares of 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. Berenberg Bank upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Guggenheim increased their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an "outperform" rating and a $1,000.00 price objective for the company. Finally, Bank of America cut their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $1,007.94.

Eli Lilly and Company Stock Up 0.9 %

Shares of LLY stock traded up $7.16 on Friday, hitting $795.35. 2,206,918 shares of the stock were exchanged, compared to its average volume of 4,869,603. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business has a 50-day moving average of $851.90 and a 200 day moving average of $870.26. The firm has a market capitalization of $755.04 billion, a P/E ratio of 85.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43.

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

Eli Lilly and Company Dividend Announcement

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. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.65%. Eli Lilly and Company's payout ratio is presently 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.