World Investment Advisors LLC Boosts Eli Lilly Stake by Over 1,500%

World Investment Advisors LLC significantly increased its investment in Eli Lilly and Company (NYSE:LLY) by an astonishing 1,566.8% during the third quarter, as revealed in their latest 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 204,889 shares throughout the quarter, the fund now holds a total of 217,966 shares of Eli Lilly. This accounts for approximately 1.1% of World Investment Advisors LLC's entire portfolio, making Eli Lilly their 13th largest investment. By the end of this reporting period, the value of their holdings in Eli Lilly and Company reached $193,105,000.

Other large investors have also been active, either increasing or decreasing their stakes in Eli Lilly. For example, International Assets Investment Management LLC raised its shares in Eli Lilly by an impressive 87,091.7% during the same quarter, owning now 12,463,182 shares valued at about $11.04 billion after purchasing an extra 12,448,888 shares. Additionally, UBS AM, a unit of UBS Asset Management Americas LLC, raised its stake by 2.6%, acquiring 157,741 shares for a total of 6,115,504 shares worth approximately $5.42 billion. Fisher Asset Management LLC also increased its holdings by 3.5%, owning 5,058,101 shares valued at around $4.48 billion after the addition of 169,391 shares.

Other notable increases include Dimensional Fund Advisors LP, which boosted its position by 5.0% in the second quarter and now owns 3,581,075 shares valued at about $3.24 billion, and Ameriprise Financial Inc., which grew its stake by 0.7%, obtaining 3,027,901 shares valued at approximately $2.74 billion. In total, institutional investors and hedge funds own about 82.53% of Eli Lilly’s stock.

Analyst Ratings Changes

Recently, several analysts issued updates regarding Eli Lilly’s stock. Truist Financial raised its price target from $1,000 to $1,033, maintaining a "buy" rating on the stock. Citigroup also increased its target from $1,060 to $1,250, keeping a "buy" rating. Sanford C. Bernstein began coverage with an "outperform" rating and a target price of $1,100. Redburn Atlantic lifted its rating on the company to "hold," while Wells Fargo raised its price target from $875 to $1,000 and gave it an "overweight" rating. The consensus rating for Eli Lilly and Company among analysts is a "Moderate Buy," with an average target price set at $1,007.94.

Eli Lilly and Company Stock Performance

The stock of Eli Lilly and Company opened at $826.66 on a recent Friday. It has a 52-week low of $561.65 and a high of $972.53. The 50-day simple moving average stands at $843.71, while the 200-day average is at $870.75. The company’s financial metrics show a debt-to-equity ratio of 2.03, a current ratio of 1.27, and a quick ratio of 0.97. Eli Lilly has a market capitalization of $784.76 billion, a price-to-earnings ratio of 89.37, a price-to-earnings-growth ratio of 3.14, and a beta of 0.41.

Eli Lilly and Company recently reported its quarterly earnings on October 30, revealing $1.18 earnings per share. This missed analysts' expectations of $1.52 by $0.34. The company achieved a return on equity of 71.08% and a net margin of 20.48%, with revenue coming in at $11.44 billion, compared to the expected $12.09 billion. Approximately a year prior, the company reported earnings per share of only $0.10, showing a year-over-year revenue growth of 20.4%.

Eli Lilly and Company Dividend Announcement

The company announced a quarterly dividend of $1.30, which will be paid on December 10. Investors on record as of November 15 will be eligible for this dividend, resulting in an annualized dividend of $5.20, equating to a yield of 0.63%. The ex-dividend date is also set for November 15. Currently, the dividend payout ratio for Eli Lilly stands at 56.22%.

Insider Transactions

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly's stock on November 8, with an average sale price of $803.38, totaling $723,042. Following this transaction, Zakrowski now directly owns 5,480 shares valued at about $4.4 million, marking a 14.11% decrease in his ownership. This sale was documented in a filing with the SEC, accessible for public viewing. Insiders currently hold around 0.13% of the company's stock.

Eli Lilly and Company Overview

Eli Lilly and Company is engaged in the discovery, development, and marketing of human pharmaceuticals worldwide. The company provides various products, including medications for diabetes like Basaglar, Humalog, and Trulicity, as well as treatments for obesity such as Zepbound.

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