Simplify Asset Management Inc. Buys 7,670 Shares of Eli Lilly and Company (NYSE:LLY)

Simplify Asset Management Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 67.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,082 shares of the company’s stock after purchasing an additional 7,670 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Simplify Asset Management Inc.’s holdings, making the stock its 15th biggest position. Simplify Asset Management Inc.’s holdings in Eli Lilly and Company were worth $16,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Twelve Points Wealth Management LLC increased its position in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC lifted its holdings in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after purchasing an additional 11 shares during the period. Summit Financial Strategies Inc. increased its stake in Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares in the last quarter. Finally, Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 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, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $33.55 during trading on Friday, hitting $752.68. The stock had a trading volume of 1,999,191 shares, compared to its average volume of 3,114,106. The stock’s 50 day moving average is $885.79 and its two-hundred day moving average is $869.71. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The stock has a market cap of $714.53 billion, a price-to-earnings ratio of 82.43, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. As a group, analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of analyst reports. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Guggenheim upped their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a report on Friday. They issued an “outperform” rating and a $1,000.00 target price for the company. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

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.