Virtu Financial LLC Increases Stake in Eli Lilly and Company

Virtu Financial LLC has significantly increased its investment in Eli Lilly and Company (NYSE:LLY) by 111.7% during the third quarter of the year. This information comes from the firm's latest filing with the Securities and Exchange Commission (SEC), known as a 13F filing. Following the acquisition of an additional 3,446 shares during this period, Virtu Financial now owns a total of 6,531 shares in Eli Lilly, which are valued at approximately $5,786,000 based on the most recent SEC filing.

Other Hedge Fund Activity

In addition to Virtu Financial's move, several other hedge funds have also adjusted their holdings in Eli Lilly. For instance, Peterson Financial Group Inc. made a new investment in Eli Lilly shares worth around $27,000 during the third quarter. Similarly, MidAtlantic Capital Management Inc. acquired a new stake valued at about $30,000 during the same timeframe. LGT Financial Advisors LLC joined in by purchasing shares valued at approximately $36,000 in the second quarter. Cedar Mountain Advisors LLC expanded its position in Eli Lilly by 53.3% during the third quarter, bringing its total holdings to 46 shares worth $41,000 after buying an additional 16 shares. Furthermore, Morton Brown Family Wealth LLC increased its investment in Eli Lilly by 45.5%, now holding 48 shares valued at $41,000 after acquiring an additional 15 shares in the last quarter. Overall, institutional investors and hedge funds hold 82.53% of the company’s stock.

Analyst Ratings Updates

Recently, various brokerages have issued reports on Eli Lilly. Evercore ISI upgraded the company to a "hold" rating on September 5th. In contrast, Cantor Fitzgerald reaffirmed an "overweight" rating with a price target of $885.00 on September 16th. Bank of America rated Eli Lilly as a "buy" and set a price objective of $997.00. Meanwhile, Barclays adjusted their target price, lowering it from $1,025.00 to $975.00, maintaining an "overweight" rating. Wolfe Research began coverage on the stock, offering an "outperform" rating with a price target of $1,000.00. Currently, four analysts have given Eli Lilly a "hold" rating while seventeen have rated it as a buy. As per MarketBeat.com, the consensus outlook for the stock is "Moderate Buy," with an average target price of $1,002.22.

Insider Trading Activities

In related news, Chief Accounting Officer Donald A. Zakrowski sold 900 shares of Eli Lilly on November 8th at an average price of $803.38, totaling a transaction value of $723,042.00. Following this sale, he retains ownership of 5,480 shares valued at around $4,402,522.40, indicating a 14.11% reduction in his position. This transaction has been disclosed in an SEC filing, which is publicly accessible. Currently, insiders own 0.13% of the company's stock.

Eli Lilly's Stock Performance

On Thursday, shares of Eli Lilly (NYSE:LLY) opened at $796.88. The company maintains a quick ratio of 0.97, a current ratio of 1.27, and a debt-to-equity ratio of 2.03. Over the past 50 days, its moving average price stood at $839.37, while the 200-day moving average was $871.92. With a market capitalization of $756.49 billion, Eli Lilly's price-to-earnings (PE) ratio is 86.15, and the P/E/G ratio is 3.13. The stock has fluctuated between a low of $561.65 and a high of $972.53 over the last fifty-two weeks.

Dividends and Share Buyback Plans

Recently, Eli Lilly announced a quarterly dividend payout, scheduled for March 10th; investors registered by February 14th will receive a dividend of $1.50 per share, marking an annualized dividend of $6.00 and yielding 0.75%. This increase from the previous quarterly dividend of $1.30 brings the payout ratio to approximately 64.86%. Moreover, the company’s Board of Directors has authorized a substantial share buyback plan worth $15.00 billion, allowing for the repurchase of up to 2% of its shares, indicating a belief that the shares are undervalued.

About Eli Lilly and Company

Eli Lilly and Company engages in the discovery, development, and marketing of prescription medications globally. The company’s product portfolio includes treatments like Basaglar, Humalog, and Trulicity for diabetes management, as well as Zepbound for treating obesity.

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