Marco Investment Management LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Marco Investment Management LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,113 shares of the company’s stock after buying an additional 42 shares during the period. Marco Investment Management LLC’s holdings in Eli Lilly and Company were worth $1,913,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. raised its holdings in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth approximately $37,000. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares in the company, valued at $86,286,847,046.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 661,900 shares of company stock valued at $604,721,602. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $901.28 on Wednesday. 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 fifty day moving average of $895.74 and a 200 day moving average of $830.47. The firm has a market capitalization of $856.60 billion, a price-to-earnings ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, research analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LLY. Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Argus upped their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

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.