Northeast Investment Management Grows Stake in Eli Lilly and Company (NYSE:LLY)

Northeast Investment Management raised its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 51,252 shares of the company’s stock after buying an additional 778 shares during the period. Eli Lilly and Company comprises approximately 2.0% of Northeast Investment Management’s holdings, making the stock its 13th largest position. Northeast Investment Management’s holdings in Eli Lilly and Company were worth $45,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LLY. Roman Butler Fullerton & Co. boosted its position in shares of Eli Lilly and Company by 1.2% during the third quarter. Roman Butler Fullerton & Co. now owns 10,027 shares of the company’s stock valued at $9,158,000 after buying an additional 122 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Eli Lilly and Company during the third quarter valued at $260,000. Kanawha Capital Management LLC boosted its position in shares of Eli Lilly and Company by 9.5% during the third quarter. Kanawha Capital Management LLC now owns 2,280 shares of the company’s stock valued at $2,020,000 after buying an additional 198 shares during the last quarter. KG&L Capital Management LLC boosted its position in shares of Eli Lilly and Company by 4.0% during the third quarter. KG&L Capital Management LLC now owns 4,733 shares of the company’s stock valued at $4,193,000 after buying an additional 182 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Eli Lilly and Company by 14.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 826,944 shares of the company’s stock valued at $732,623,000 after buying an additional 104,801 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 1.3 %

Eli Lilly and Company stock opened at $818.93 on Monday. 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 debt-to-equity ratio of 2.03, a quick ratio of 0.87 and a current ratio of 1.27. The company has a market capitalization of $777.43 billion, a P/E ratio of 88.53, a PEG ratio of 3.13 and a beta of 0.43. The stock has a 50-day simple moving average of $911.04 and a 200-day simple moving average of $866.97.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.23 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company 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 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

Analyst Ratings Changes

LLY has been the topic of several recent analyst reports. 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. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.00.

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.