California Public Employees Retirement System Buys 281,862 Shares of Eli Lilly and Company $LLY

California Public Employees Retirement System increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 16.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,009,974 shares of the company’s stock after purchasing an additional 281,862 shares during the period. Eli Lilly and Company accounts for 1.0% of California Public Employees Retirement System’s investment portfolio, making the stock its 14th largest position. California Public Employees Retirement System owned about 0.21% of Eli Lilly and Company worth $1,566,835,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.5% in the second quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after acquiring an additional 1,183,038 shares during the period. Wellington Management Group LLP lifted its stake in Eli Lilly and Company by 0.6% in the 1st quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock worth $10,495,261,000 after purchasing an additional 81,587 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Eli Lilly and Company by 78,621.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares during the period. Norges Bank purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $8,827,714,000. Finally, Nuveen LLC bought a new position in shares of Eli Lilly and Company in the first quarter worth $4,613,912,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LLY. Guggenheim reissued a “buy” rating and set a $1,163.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday. CICC Research lifted their price target on Eli Lilly and Company from $801.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. HSBC upped their price objective on shares of Eli Lilly and Company from $700.00 to $800.00 in a research report on Wednesday, October 1st. Morgan Stanley lifted their target price on shares of Eli Lilly and Company from $1,171.00 to $1,290.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, Weiss Ratings raised shares of Eli Lilly and Company from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,087.32.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $1,009.26 on Friday. The company has a market capitalization of $954.13 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.12 and a beta of 0.37. The business has a 50 day moving average of $918.84 and a 200 day moving average of $809.74. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.55 and a quick ratio of 1.24. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,111.99.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The business’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.6%. Eli Lilly and Company’s payout ratio is currently 29.35%.

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.