Holocene Advisors LP Boosts Position in Eli Lilly and Company (NYSE:LLY)

Holocene Advisors LP grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 257.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 437,603 shares of the company’s stock after purchasing an additional 315,065 shares during the period. Eli Lilly and Company makes up about 1.6% of Holocene Advisors LP’s holdings, making the stock its 5th biggest holding. Holocene Advisors LP’s holdings in Eli Lilly and Company were worth $387,690,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Garden State Investment Advisory Services LLC increased its stake in shares of Eli Lilly and Company by 16.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock valued at $2,338,000 after buying an additional 372 shares during the period. Concentric Capital Strategies LP boosted its holdings in Eli Lilly and Company by 11.0% in the third quarter. Concentric Capital Strategies LP now owns 20,110 shares of the company’s stock valued at $17,816,000 after acquiring an additional 1,991 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Eli Lilly and Company by 4.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 19,950 shares of the company’s stock valued at $17,675,000 after purchasing an additional 906 shares during the period. Benjamin Edwards Inc. raised its holdings in Eli Lilly and Company by 316.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,463 shares of the company’s stock worth $11,943,000 after purchasing an additional 10,231 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Eli Lilly and Company during the 3rd quarter worth approximately $19,094,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Guggenheim raised their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $798.00 on Monday. The firm has a market capitalization of $757.56 billion, a P/E ratio of 85.98, a P/E/G ratio of 3.01 and a beta of 0.43. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a 50 day moving average price of $851.90 and a two-hundred day moving average price of $870.85. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last posted 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 $1.52 by ($0.34). 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 return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Equities analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s payout ratio is presently 56.22%.

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.