E Fund Management Co. Ltd. Raises Position in Eli Lilly and Company (NYSE:LLY)

E Fund Management Co. Ltd. grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,211 shares of the company’s stock after purchasing an additional 46 shares during the period. E Fund Management Co. Ltd.’s holdings in Eli Lilly and Company were worth $4,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AMJ Financial Wealth Management acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $201,000. Aveo Capital Partners LLC increased its position in shares of Eli Lilly and Company by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock valued at $1,178,000 after acquiring an additional 153 shares during the period. Gryphon Financial Partners LLC increased its position in shares of Eli Lilly and Company by 19.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after acquiring an additional 377 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Eli Lilly and Company by 11.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 804 shares of the company’s stock valued at $469,000 after acquiring an additional 80 shares during the period. Finally, Sachetta LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $99,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Bank of America increased 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 report on Friday, August 9th. Finally, Berenberg Bank increased their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 451,900 shares of company stock valued at $418,732,178. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $906.17 on Wednesday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $861.23 billion, a PE ratio of 133.46, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The stock’s 50-day moving average price is $896.70 and its 200-day moving average price is $835.96.

Eli Lilly and Company (NYSE:LLY) last posted 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 firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, equities analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.