Assenagon Asset Management S.A. Sells 908,085 Shares of Eli Lilly and Company $LLY

Assenagon Asset Management S.A. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 61.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 572,946 shares of the company’s stock after selling 908,085 shares during the quarter. Eli Lilly and Company comprises about 0.6% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 25th largest holding. Assenagon Asset Management S.A. owned about 0.06% of Eli Lilly and Company worth $437,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company during the 1st quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the second quarter worth about $27,000. Evolution Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $29,000. Steph & Co. lifted its holdings in shares of Eli Lilly and Company by 290.0% during the 3rd quarter. Steph & Co. now owns 39 shares of the company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $1,042.06 on Thursday. The stock has a 50 day simple moving average of $951.95 and a 200 day simple moving average of $826.51. The stock has a market cap of $985.14 billion, a P/E ratio of 50.98, a PEG ratio of 1.32 and a beta of 0.37. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,111.99. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter last year, the business earned $1.18 EPS. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a dividend of $1.73 per share. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Eli Lilly and Company’s payout ratio is 29.35%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. Truist Financial boosted their price target on Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Loop Capital set a $950.00 price objective on Eli Lilly and Company in a report on Monday, November 10th. Hsbc Global Res raised shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Berenberg Bank boosted their target price on Eli Lilly and Company from $830.00 to $950.00 and gave the stock a “hold” rating in a report on Tuesday, December 2nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,141.73.

Eli Lilly and Company 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.