Eli Lilly and Company (NYSE:LLY) is Traynor Capital Management Inc.’s 7th Largest Position

Traynor Capital Management Inc. raised its position in Eli Lilly and Company (NYSE:LLY) by 12.6% during the third quarter, Holdings Channel.com reports. The fund owned 48,032 shares of the company’s stock after purchasing an additional 5,375 shares during the quarter. Eli Lilly and Company accounts for approximately 2.6% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Traynor Capital Management Inc.’s holdings in Eli Lilly and Company were worth $42,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Smith Group Asset Management LLC increased its stake in shares of Eli Lilly and Company by 46.6% during the third quarter. Smith Group Asset Management LLC now owns 2,189 shares of the company’s stock valued at $1,939,000 after buying an additional 696 shares during the period. Worth Financial Advisory Group LLC purchased a new position in Eli Lilly and Company during the 3rd quarter valued at $629,000. Pallas Capital Advisors LLC raised its holdings in Eli Lilly and Company by 8.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 16,686 shares of the company’s stock worth $14,873,000 after purchasing an additional 1,319 shares in the last quarter. Orrstown Financial Services Inc. lifted its position in shares of Eli Lilly and Company by 90.1% in the 3rd quarter. Orrstown Financial Services Inc. now owns 1,614 shares of the company’s stock worth $1,430,000 after purchasing an additional 765 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Eli Lilly and Company by 3.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 234,334 shares of the company’s stock valued at $207,606,000 after purchasing an additional 7,460 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LLY. Berenberg Bank increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $904.05 on Wednesday. The firm has a market cap of $859.21 billion, a P/E ratio of 133.14, a PEG ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month 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 company has a 50 day moving average of $918.30 and a 200 day moving average of $865.23.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, research analysts expect that Eli Lilly and Company will post 14.05 EPS 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. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.