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

Simplify Asset Management Inc. lifted its position in Eli Lilly and Company (NYSE:LLY) by 67.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 19,082 shares of the company’s stock after purchasing an additional 7,670 shares during the period. Eli Lilly and Company comprises approximately 0.8% of Simplify Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Simplify Asset Management Inc.’s holdings in Eli Lilly and Company were worth $16,906,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Altrius Capital Management Inc grew its position in Eli Lilly and Company by 1.0% during the third quarter. Altrius Capital Management Inc now owns 1,285 shares of the company’s stock worth $1,138,000 after buying an additional 13 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company by 1.0% during the third quarter. KCM Investment Advisors LLC now owns 38,668 shares of the company’s stock worth $34,258,000 after purchasing an additional 394 shares in the last quarter. Valley Wealth Managers Inc. increased its position in shares of Eli Lilly and Company by 26.4% in the third quarter. Valley Wealth Managers Inc. now owns 2,260 shares of the company’s stock worth $2,002,000 after purchasing an additional 472 shares during the last quarter. Empirical Finance LLC raised its stake in Eli Lilly and Company by 2.4% in the third quarter. Empirical Finance LLC now owns 27,540 shares of the company’s stock valued at $24,399,000 after purchasing an additional 644 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC grew its stake in Eli Lilly and Company by 5.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,278 shares of the company’s stock worth $1,133,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 4.3 %

NYSE LLY traded down $33.55 on Friday, hitting $752.68. The company’s stock had a trading volume of 1,999,191 shares, compared to its average volume of 3,114,106. The firm has a market cap of $714.53 billion, a P/E ratio of 82.43, a PEG ratio of 3.07 and a beta of 0.43. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company’s 50-day simple moving average is $885.79 and its 200 day simple moving average is $869.71. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced 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 business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Analyst Ratings Changes

LLY has been the topic of several research reports. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, BMO Capital Markets increased their price target 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. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Profile

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.