Eli Lilly and Company (NYSE:LLY) Shares Bought by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 33.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436 shares of the company’s stock after acquiring an additional 110 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Eli Lilly and Company were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Eli Lilly and Company by 49.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 90,635 shares of the company’s stock valued at $74,856,000 after acquiring an additional 29,907 shares during the last quarter. Jennison Associates LLC increased its position in Eli Lilly and Company by 8.9% during the 1st quarter. Jennison Associates LLC now owns 5,221,016 shares of the company’s stock worth $4,312,089,000 after purchasing an additional 424,693 shares in the last quarter. Alexander Labrunerie & CO. Inc. increased its position in Eli Lilly and Company by 2.7% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,010 shares of the company’s stock worth $834,000 after purchasing an additional 27 shares in the last quarter. Burling Wealth Partners LLC increased its position in Eli Lilly and Company by 10.0% during the 1st quarter. Burling Wealth Partners LLC now owns 8,988 shares of the company’s stock worth $7,423,000 after purchasing an additional 820 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its position in Eli Lilly and Company by 1.9% during the 1st quarter. Mystic Asset Management Inc. now owns 2,668 shares of the company’s stock worth $2,204,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LLY. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim raised their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,012.56.

Eli Lilly and Company Stock Up 1.8%

LLY stock traded up $13.99 during mid-day trading on Friday, reaching $775.49. The company had a trading volume of 731,801 shares, compared to its average volume of 3,672,176. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The stock has a 50 day simple moving average of $766.32 and a two-hundred day simple moving average of $799.83. The company has a market capitalization of $734.96 billion, a price-to-earnings ratio of 63.02, a PEG ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

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.