In a surprising turn of events, Vantage Investment Partners LLC has announced an increase in its stake in Eli Lilly and Company (NYSE:LLY) during the first quarter of this year. The renowned investment firm revealed that it had raised its ownership of the pharmaceutical giant by 1.2%, showcasing a strong display of confidence in Eli Lilly’s potential for growth and success.
According to the recently submitted Form 13F filing with the SEC, Vantage Investment Partners LLC now possesses 41,885 shares of Eli Lilly and Company, following the acquisition of an additional 508 shares within this period. This newfound stake represents 2.0% of the investment partner’s overall portfolio, making it their sixteenth largest holding.
The value associated with Vantage Investment Partners LLC’s holdings in Eli Lilly and Company stands at an impressive $14,384,000 based on their most recent filing. This substantial figure only goes to highlight the firm’s belief in the significant prospects offered by Eli Lilly and Company in terms of generating profitable returns.
Furthermore, Eli Lilly and Company recently disclosed plans to distribute a quarterly dividend on Friday, September 8th. Shareholders who are recorded as owners on Tuesday, August 15th will receive a dividend payout of $1.13 per share. The ex-dividend date has been set for Monday, August 14th.
This dividend declaration signals Eli Lilly’s commitment towards providing consistent financial rewards to its valued shareholders. At an annualized basis of $4.52 per share and a yield of 0.97%, this announcement exemplifies the company’s dedication to rewarding investors while maintaining sustainable growth.
Moreover, it is worth noting that Eli Lilly and Company boasts an impressive payout ratio currently standing at 71.86%. This reflects a responsible approach towards balancing shareholder returns and reinvesting in future growth opportunities.
Various equities analysts have also chimed in on their assessments of Eli Lilly and Company and its potential. Notably, Cantor Fitzgerald recently issued a report raising their target price from $485.00 to $550.00 for the pharmaceutical giant. Jefferies Financial Group expressed a similar sentiment by increasing their price objective from $290.00 to $310.00 while maintaining a “hold” rating.
Barclays Research has also enhanced its target price on Eli Lilly and Company shares, elevating it from $420.00 to an impressive $500.00. Additionally, Credit Suisse Group adjusted its target price from $420.00 to $490.00 in early May, displaying confidence in Eli Lilly’s upward trajectory.
UBS Group joins the chorus of positive outlooks by raising their price target even further – from $447.00 to an optimistic $498.00 per share, labelling the stock as a “buy.” This plethora of buy ratings is corroborated by data from Bloomberg.com, which indicates that Eli Lilly and Company currently holds an average rating of “Moderate Buy” with an average price target reaching $437.90.
The culmination of these endorsements is indicative of wall street’s belief in the strength and capacity for growth that Eli Lilly and Company possesses moving forward into 2023 and beyond. Observers will be keenly watching this company as it navigates through the ever-evolving landscape of the pharmaceutical industry with renewed vigor and confidence.
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Title: Institutional Investors Make Significant Moves in Eli Lilly and Company, Major Shareholder Sells Stake
June 28, 2023 – Institutional investors have been making significant moves in their stakes within Eli Lilly and Company. Ausdal Financial Partners Inc. increased its stake by 28.1% during the fourth quarter, now owning 3,093 shares of the company’s stock worth $1,132,000. This was accomplished by purchasing an additional 679 shares in the last quarter.
Cannell & Co. also made a slight boost to its position in Eli Lilly and Company, increasing it by 1.5% during the fourth quarter. The company now holds 2,000 shares of the stock valued at $732,000 after acquiring an additional 30 shares in the last quarter.
Echo45 Advisors LLC joined in on the action as well, raising its position in Eli Lilly and Company by 9.0% during the fourth quarter. The company now owns 811 shares of the stock worth $297,000 after purchasing an additional 67 shares in the last quarter.
In a separate move, Paragon Advisors LLC acquired a new position in Eli Lilly and Company worth approximately $944,000 during the fourth quarter.
Furthermore, Centaurus Financial Inc. lifted its stake in Eli Lilly and Company by 13.6% during the third quarter of last year. The company now owns 3,872 shares of the stock worth $1,252,000 after purchasing an additional 464 shares over that period.
These institutional investors and hedge funds currently own approximately 87.25% of Eli Lilly and Company’s stock.
In other news on June 22nd this year, major shareholder Lilly Endowment Inc sold a total of 107,022 shares of Eli Lilly and Company’s stock for approximately $49 million dollars at an average price of $459.28 per share. As a result of this transaction, Lily Endowment Inc now directly owns about $46 billion dollars’ worth of stocks.
Additionally, Executing Vice President of Eli Lilly and Company, Johna Norton, recently sold 1,647 shares of the company’s stock at an average price of $444.29 per share on June 14th. This amounted to a total transaction value of $731,745.63. Following the sale, Norton now directly owns 31,761 shares valued at around $14 million dollars in total.
In the past 90 days alone, company insiders have sold approximately 1,279,783 shares of Eli Lilly and Company’s stock with a combined value of over $510 million dollars. These insider sales amount to roughly 0.13% of the overall company’s stock.
Furthermore, Eli Lilly and Company announced that it will be paying a quarterly dividend to shareholders on September 8th this year. Shareholders recorded as being invested in the company by August 15th will receive a dividend payout of $1.13 per share. The ex-dividend date is set for August 14th. At present, Eli Lilly and Company has an annualized dividend payout ratio of 71.86%, representing a yield of 0.97%.
In terms of stock performance in recent times, Eli Lilly and Company opened at $464.65 on June 28th this year. The company boasts a quick ratio of 1.02 and a current ratio of 1.30 with a debt-to-equity ratio standing at around 1.67.
Eli Lilly and Company has experienced both highs and lows over the past twelve months from its low point at $296.32 to its high point reaching $467.98 recently.