Empirical Finance LLC Has $22.31 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Empirical Finance LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 3.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 28,676 shares of the company’s stock after acquiring an additional 964 shares during the period. Eli Lilly and Company makes up about 1.4% of Empirical Finance LLC’s investment portfolio, making the stock its 9th largest position. Empirical Finance LLC’s holdings in Eli Lilly and Company were worth $22,309,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC increased its position in shares of Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. Argus upped their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $843.00.

Eli Lilly and Company Price Performance

LLY traded up $14.26 during midday trading on Friday, hitting $948.40. 2,250,930 shares of the company traded hands, compared to its average volume of 2,931,376. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $950.79. The company has a market capitalization of $901.37 billion, a price-to-earnings ratio of 139.25, a PEG ratio of 2.05 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business has a 50 day simple moving average of $845.17 and a two-hundred day simple moving average of $760.02.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 13.76 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 Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.