Eli Lilly and Company (NYSE:LLY) Stake Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,162 shares of the company’s stock after purchasing an additional 1,317 shares during the quarter. Eli Lilly and Company accounts for about 1.1% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 10th biggest holding. First Trust Direct Indexing L.P.’s holdings in Eli Lilly and Company were worth $19,634,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. M&G Plc bought a new stake in Eli Lilly and Company in the 1st quarter worth about $8,896,000. Virtu Financial LLC bought a new stake in shares of Eli Lilly and Company in the first quarter worth approximately $2,138,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares during the last quarter. Mutual Advisors LLC lifted its position in Eli Lilly and Company by 404.8% during the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock valued at $48,699,000 after purchasing an additional 50,197 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Eli Lilly and Company by 0.6% in the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after purchasing an additional 430 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Barclays increased 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 research note on Wednesday, July 10th. Finally, Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $846.90 on Thursday. The stock has a 50-day moving average price of $916.20 and a 200 day moving average price of $865.10. The stock has a market capitalization of $804.90 billion, a P/E ratio of 124.73, a P/E/G ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. Equities research analysts forecast that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.61%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.