Fullerton Fund Management Co Ltd. Has $26.78 Million Holdings in Eli Lilly and Company (NYSE:LLY)

06 Dec 2023, 11:24 by Teresa Graham · The Cerbat Gem

Fullerton Fund Management Co Ltd. lowered its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 17.1% in the second quarter, HoldingsChannel.com reports. The firm owned 57,112 shares of the company’s stock after selling 11,815 shares during the quarter. Eli Lilly and Company comprises 1.9% of Fullerton Fund Management Co Ltd.’s investment portfolio, making the stock its 17th largest position. Fullerton Fund Management Co Ltd.’s holdings in Eli Lilly and Company were worth $26,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Bank Julius Baer & Co. Ltd Zurich increased its position in Eli Lilly and Company by 533,336.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,059,681 shares of the company’s stock worth $8,938,609,000 after purchasing an additional 19,056,108 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $3,416,206,000. Moneta Group Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 102,752.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after buying an additional 5,440,731 shares during the period. Morgan Stanley grew its position in shares of Eli Lilly and Company by 44.1% during the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after buying an additional 3,691,436 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Eli Lilly and Company by 316.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,434,073 shares of the company’s stock worth $217,569,000 after acquiring an additional 1,850,187 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 670 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $571.10, for a total value of $382,637.00. Following the transaction, the chief accounting officer now directly owns 4,708 shares of the company’s stock, valued at approximately $2,688,738.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $571.41, for a total transaction of $119,996,100.00. Following the completion of the sale, the insider now directly owns 99,983,810 shares of the company’s stock, valued at approximately $57,131,748,872.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 670 shares of Eli Lilly and Company stock in a transaction on Monday, November 6th. The stock was sold at an average price of $571.10, for a total value of $382,637.00. Following the sale, the chief accounting officer now directly owns 4,708 shares of the company’s stock, valued at approximately $2,688,738.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 426,818 shares of company stock worth $251,226,782. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $0.47 during mid-day trading on Wednesday, hitting $587.68. The stock had a trading volume of 602,397 shares, compared to its average volume of 3,069,473. Eli Lilly and Company has a twelve month low of $309.20 and a twelve month high of $629.97. The stock has a market cap of $557.89 billion, a price-to-earnings ratio of 106.51, a PEG ratio of 3.55 and a beta of 0.33. The company’s 50 day simple moving average is $582.49 and its 200 day simple moving average is $523.28. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.18. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Eli Lilly and Company had a return on equity of 48.12% and a net margin of 15.55%. On average, equities research analysts forecast that Eli Lilly and Company will post 6.62 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.

Wall Street Analyst Weigh In

A number of research firms have commented on LLY. Deutsche Bank Aktiengesellschaft started coverage on shares of Eli Lilly and Company in a report on Thursday, November 9th. They set a “hold” rating and a $535.00 target price for the company. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. Royal Bank of Canada boosted their price objective on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Credit Suisse Group boosted their price objective on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $385.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $570.82.

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