Allspring Global Investments Holdings LLC significantly increased its stake in Eli Lilly and Company (NYSE: LLY) by 162.2% during the third quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 318,993 shares of Eli Lilly, having acquired an additional 197,315 shares during this period. As of the latest reporting, Allspring’s holdings in Eli Lilly were valued at approximately $263.3 million.
Other institutional investors have also adjusted their positions in Eli Lilly. JB Capital LLC raised its stake by 10.8%, now owning 1,214 shares valued at $926,000 after purchasing 118 additional shares. Mainstream Capital Management LLC increased its holdings by 0.9%, bringing its total to 2,318 shares worth $1.77 million. Stonebridge Financial Group LLC also boosted its stake by 2.0%, with a new total of 998 shares valued at $761,000.
A significant move was made by Shum Financial Group Inc., which acquired a new position in Eli Lilly valued at $1.23 million. Merit Financial Group LLC raised its stake by 6.2%, now holding 34,453 shares worth $26.29 million. Collectively, hedge funds and institutional investors own approximately 82.53% of Eli Lilly’s stock.
Stock Performance and Financial Highlights
Eli Lilly’s stock opened at $1,075.00 on the trading day following these announcements. The company has shown robust financial performance, with a 50-day moving average price of $1,008.08 and a 200-day moving average of $848.52. Eli Lilly has a market capitalization of $1.02 trillion and a price-to-earnings ratio of 52.59. Its 52-week trading range has been between $623.78 and $1,111.99.
In its most recent earnings report, released on October 30, 2023, Eli Lilly reported earnings per share (EPS) of $7.02, exceeding the consensus estimate of $6.42 by $0.60. The company achieved a net margin of 30.99% and a return on equity of 109.52%. Revenue for the quarter reached $17.60 billion, far surpassing analysts’ expectations of $16.09 billion. This marks a 53.9% increase in revenue compared to the same quarter last year.
Eli Lilly has set its fiscal year 2025 guidance with expected EPS between $23.00 and $23.70. Analysts predict an EPS of $23.48 for the current fiscal year.
Dividend Increase and Analyst Ratings
Eli Lilly also recently announced a quarterly dividend of $1.73, scheduled for payment on March 10, 2025. Shareholders of record as of February 13, 2025 will receive this payment, an increase from the previous dividend of $1.50. This adjustment reflects an annualized dividend of $6.92 and a yield of 0.6%. The company’s dividend payout ratio currently stands at 33.86%.
Several research analysts have provided updated assessments of Eli Lilly’s stock. Berenberg Bank raised its price target from $830.00 to $950.00, maintaining a “hold” rating. Weiss Ratings reiterated a “buy (b-)” rating, while National Bankshares set a price target of $1,286.00. Leerink Partners reaffirmed an “outperform” rating, and Wolfe Research increased its price target to $1,250.00.
Currently, four analysts rate Eli Lilly’s stock as a Strong Buy, while seventeen have assigned it a Buy rating and five have issued a Hold rating. According to MarketBeat data, Eli Lilly has an overall consensus rating of “Moderate Buy” with an average price target of $1,155.36.
Eli Lilly and Company, headquartered in Indianapolis, Indiana, has been a leader in the pharmaceutical sector since its founding in 1876. The company specializes in the research, development, manufacture, and commercialization of various medicines and therapies, serving patients worldwide. Under the leadership of President and CEO David A. Ricks, Eli Lilly continues to expand its global presence across North America, Europe, Asia, and beyond.
