Sierra Summit Advisors LLC Acquires 4,673 Shares of Eli Lilly and Company $LLY

Sierra Summit Advisors LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 40.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,248 shares of the company’s stock after purchasing an additional 4,673 shares during the quarter. Eli Lilly and Company accounts for 2.3% of Sierra Summit Advisors LLC’s portfolio, making the stock its 14th biggest position. Sierra Summit Advisors LLC’s holdings in Eli Lilly and Company were worth $12,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Titleist Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 48.6% in the 2nd quarter. Titleist Asset Management LLC now owns 789 shares of the company’s stock valued at $615,000 after purchasing an additional 258 shares during the period. Barings LLC increased its holdings in Eli Lilly and Company by 4.6% in the second quarter. Barings LLC now owns 1,246 shares of the company’s stock valued at $971,000 after purchasing an additional 55 shares during the last quarter. Cynosure Group LLC lifted its stake in Eli Lilly and Company by 22.0% in the second quarter. Cynosure Group LLC now owns 2,034 shares of the company’s stock valued at $1,586,000 after buying an additional 367 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Eli Lilly and Company by 2.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,359,653 shares of the company’s stock worth $4,178,010,000 after buying an additional 103,119 shares during the last quarter. Finally, Soundwatch Capital LLC bought a new position in Eli Lilly and Company during the second quarter worth about $3,814,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 1.4%

LLY stock opened at $1,058.05 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market capitalization of $1.00 trillion, a P/E ratio of 69.15, a P/E/G ratio of 1.21 and a beta of 0.43. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $1,066.65. The business has a 50-day moving average of $855.89 and a 200-day moving average of $787.74.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. The business’s revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.6%. Eli Lilly and Company’s payout ratio is 29.35%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Eli Lilly and Company from $895.00 to $1,080.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Eli Lilly and Company in a research report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and set a $948.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, October 16th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $930.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Leerink Partnrs raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.95.

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.