Victory Capital Management Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Victory Capital Management Inc. increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 697,335 shares of the company’s stock after purchasing an additional 1,961 shares during the period. Eli Lilly and Company makes up approximately 0.6% of Victory Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Victory Capital Management Inc.’s holdings in Eli Lilly and Company were worth $617,797,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of LLY. International Assets Investment Management LLC raised its position in shares of Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Swedbank AB acquired a new position in Eli Lilly and Company in the 1st quarter worth $932,797,000. Vanguard Group Inc. grew its position in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after buying an additional 1,021,287 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Truist Financial raised 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 note on Thursday, October 10th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Berenberg Bank boosted 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,008.41.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on 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 owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

LLY stock traded down $17.56 during trading on Tuesday, hitting $814.88. The stock had a trading volume of 1,052,344 shares, compared to its average volume of 3,104,787. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company’s 50 day moving average price is $893.78 and its two-hundred day moving average price is $870.11. The stock has a market cap of $773.58 billion, a price-to-earnings ratio of 88.08, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced 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). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 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.