Salem Investment Counselors Inc. Raises Stock Holdings in Eli Lilly and Company $LLY

Salem Investment Counselors Inc. lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,164 shares of the company’s stock after acquiring an additional 8,295 shares during the period. Eli Lilly and Company accounts for about 1.8% of Salem Investment Counselors Inc.’s holdings, making the stock its 12th biggest position. Salem Investment Counselors Inc.’s holdings in Eli Lilly and Company were worth $61,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Laurel Wealth Advisors LLC increased its stake in Eli Lilly and Company by 78,621.2% in the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares during the period. Norges Bank purchased a new position in shares of Eli Lilly and Company during the second quarter worth about $8,827,714,000. Vanguard Group Inc. increased its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after acquiring an additional 1,183,038 shares during the period. Assenagon Asset Management S.A. raised its stake in Eli Lilly and Company by 106.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock valued at $1,154,508,000 after acquiring an additional 765,010 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Eli Lilly and Company by 13.4% during the 2nd quarter. Franklin Resources Inc. now owns 4,766,865 shares of the company’s stock worth $3,715,913,000 after acquiring an additional 564,736 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LLY shares. Daiwa Capital Markets set a $1,230.00 target price on Eli Lilly and Company and gave the company a “buy” rating in a report on Tuesday. Hsbc Global Res raised shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 27th. JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Loop Capital set a $950.00 target price on shares of Eli Lilly and Company in a research note on Monday, November 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $951.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Buy” and a consensus target price of $1,141.73.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,042.06 on Thursday. The firm has a market capitalization of $985.14 billion, a P/E ratio of 50.98, a PEG ratio of 1.32 and a beta of 0.37. Eli Lilly and Company has a one year low of $623.78 and a one year high of $1,111.99. The company’s fifty day moving average is $951.95 and its two-hundred day moving average is $826.51. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.24 and a current ratio of 1.55.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter last year, the firm posted $1.18 EPS. The business’s revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 13th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. Eli Lilly and Company’s payout ratio is 29.35%.

Eli Lilly and Company 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.