Strategy Asset Managers LLC Has $14.11 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Strategy Asset Managers LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 132.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,929 shares of the company's stock after acquiring an additional 9,091 shares during the quarter. Eli Lilly and Company makes up 2.7% of Strategy Asset Managers LLC's investment portfolio, making the stock its 6th largest position. Strategy Asset Managers LLC's holdings in Eli Lilly and Company were worth $14,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mattern Capital Management LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth about $222,000. Vident Advisory LLC grew its stake in shares of Eli Lilly and Company by 10.0% during the 1st quarter. Vident Advisory LLC now owns 18,651 shares of the company's stock valued at $14,511,000 after buying an additional 1,688 shares during the period. Wellington Wealth Strategies LLC. acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth $14,248,000. Axxcess Wealth Management LLC raised its position in shares of Eli Lilly and Company by 4.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 24,658 shares of the company's stock worth $19,183,000 after buying an additional 981 shares during the period. Finally, First Commonwealth Financial Corp PA boosted its holdings in Eli Lilly and Company by 118.7% in the first quarter. First Commonwealth Financial Corp PA now owns 1,568 shares of the company's stock valued at $1,220,000 after acquiring an additional 851 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Morgan Stanley restated an "overweight" rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Bank of America reduced their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Truist Financial increased their price objective 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. Finally, Citigroup lifted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,007.94.

Eli Lilly and Company Stock Performance

LLY stock traded up $22.10 during trading on Wednesday, reaching $751.83. 2,994,066 shares of the stock were exchanged, compared to its average volume of 3,176,212. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month 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 company has a market capitalization of $713.73 billion, a P/E ratio of 80.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. The stock has a 50 day simple moving average of $875.60 and a 200-day simple moving average of $870.81.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business'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 posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company's payout ratio is currently 56.22%.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

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.