Sit Investment Associates Inc. Has $25.08 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Sit Investment Associates Inc. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,362 shares of the company’s stock after purchasing an additional 1,144 shares during the quarter. Sit Investment Associates Inc.’s holdings in Eli Lilly and Company were worth $25,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Knightsbridge Asset Management LLC grew its position in Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after acquiring an additional 15 shares during the period. LS Investment Advisors LLC grew its position in Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after acquiring an additional 40 shares during the period. Prism Advisors Inc. bought a new stake in Eli Lilly and Company in the first quarter valued at $207,000. CSM Advisors LLC grew its position in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after acquiring an additional 245 shares during the period. Finally, Hemington Wealth Management grew its position in Eli Lilly and Company by 14.4% in the first quarter. Hemington Wealth Management now owns 985 shares of the company’s stock valued at $813,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, Director Jamere Jackson bought 200 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the purchase, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This represents a 2.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David A. Ricks bought 1,632 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the purchase, the chief executive officer directly owned 546,601 shares of the company’s stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 3.3%

Shares of LLY opened at $660.41 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The firm has a market capitalization of $625.05 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44. The stock’s fifty day simple moving average is $767.52 and its 200-day simple moving average is $796.25.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the firm posted $3.92 earnings per share. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company’s dividend payout ratio is presently 39.22%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. UBS Group lowered their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Leerink Partners reiterated a “market perform” rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research report on Thursday, August 7th. Leerink Partnrs cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $964.88.

About Eli Lilly and Company

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.