KLP Kapitalforvaltning AS Has $242.83 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

KLP Kapitalforvaltning AS grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.8% during the first quarter, HoldingsChannel.com reports. The firm owned 294,019 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Eli Lilly and Company makes up approximately 1.2% of KLP Kapitalforvaltning AS’s portfolio, making the stock its 13th biggest holding. KLP Kapitalforvaltning AS’s holdings in Eli Lilly and Company were worth $242,833,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WestEnd Advisors LLC increased its position in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department raised its position in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $48,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Guggenheim lifted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Finally, HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,012.56.

Eli Lilly and Company Trading Up 1.6%

Shares of LLY stock traded up $12.20 during trading hours on Tuesday, hitting $774.38. The company had a trading volume of 1,101,763 shares, compared to its average volume of 3,652,020. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company’s fifty day moving average is $767.03 and its 200 day moving average is $800.17. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market capitalization of $733.91 billion, a PE ratio of 63.11, a price-to-earnings-growth ratio of 1.12 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 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the company posted $2.58 earnings per share. Research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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