Van Lanschot Kempen Investment Management N.V. Purchases New Stake in Eli Lilly and Company (NYSE:LLY)

Van Lanschot Kempen Investment Management N.V. acquired a new position in Eli Lilly and Company (NYSE:LLY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,088 shares of the company’s stock, valued at approximately $19,093,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Capital World Investors lifted its stake in Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after buying an additional 89,720 shares during the period. Norges Bank bought a new position in Eli Lilly and Company during the fourth quarter worth about $5,992,890,000. Capital Research Global Investors grew its position in shares of Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the period. Finally, Capital International Investors increased its stake in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after acquiring an additional 335,560 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares in the company, valued at $80,896,942,664.44. The disclosure for this sale can be found here. Insiders sold a total of 1,122,141 shares of company stock worth $991,938,411 in the last three months. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.1 %

Shares of LLY stock traded down $1.43 during trading on Friday, reaching $952.74. The company’s stock had a trading volume of 2,063,309 shares, compared to its average volume of 3,096,351. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business has a fifty day moving average price of $886.32 and a 200-day moving average price of $813.81. The company has a market cap of $905.49 billion, a price-to-earnings ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LLY. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, August 19th. Guggenheim boosted their price target 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. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Bank of America lifted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $956.88.

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.