Ballentine Partners LLC Has $14.83 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Ballentine Partners LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,380 shares of the company’s stock after purchasing an additional 1,145 shares during the period. Ballentine Partners LLC’s holdings in Eli Lilly and Company were worth $14,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter worth about $5,992,890,000. Swedbank AB purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. GQG Partners LLC increased its position in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after acquiring an additional 497,079 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Berenberg Bank raised 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. Finally, BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Price Performance

Shares of LLY traded down $10.04 during midday trading on Friday, hitting $902.71. 3,439,999 shares of the company traded hands, compared to its average volume of 3,063,074. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The firm has a market cap of $857.94 billion, a P/E ratio of 132.95, a PEG ratio of 2.91 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a 50-day moving average of $895.97 and a 200-day moving average of $827.99.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate 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 company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 737,410 shares of company stock valued at $669,719,100. Company insiders own 0.13% of the company’s stock.

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.