World Investment Advisors LLC Significantly Increases Stake in Eli Lilly and Company

World Investment Advisors LLC has dramatically increased its ownership of Eli Lilly and Company (NYSE:LLY - Free Report) by an astonishing 1,566.8% during the third quarter. This information comes from the company's latest 13F filing submitted to the Securities and Exchange Commission (SEC). Following this increase, the fund now holds a total of 217,966 shares of Eli Lilly's stock, after acquiring an additional 204,889 shares throughout the quarter. Eli Lilly now makes up approximately 1.1% of World Investment Advisors LLC's total investments, ranking it as the fund's 13th largest position. As of the end of the reporting period, the value of the holdings in Eli Lilly stood at around $193,105,000.

In addition to World Investment Advisors, several other prominent investors have also adjusted their stakes in Eli Lilly. For example, International Assets Investment Management LLC has ramped up its holdings by an eye-popping 87,091.7% during the same quarter. It now owns 12,463,182 shares, valued at approximately $11,041,631,000, after purchasing an additional 12,448,888 shares. Meanwhile, UBS Asset Management Americas LLC increased its stake by 2.6%, bringing its holdings to 6,115,504 shares worth around $5,417,970,000 after acquiring an additional 157,741 shares. Similarly, Fisher Asset Management LLC raised its stake by 3.5%, and now holds 5,058,101 shares valued at $4,481,175,000 following a purchase of 169,391 shares.

Dimensional Fund Advisors LP also boosted its position by 5.0% during the second quarter, now holding 3,581,075 shares valued at $3,242,296,000, after acquiring an additional 171,595 shares. Moreover, Ameriprise Financial Inc. witnessed a moderate increase in its stake by 0.7%, owning 3,027,901 shares worth $2,741,832,000 after an additional purchase of 22,392 shares. As a whole, around 82.53% of Eli Lilly's stock is held by institutional investors and hedge funds.

Recent Analyst Ratings for Eli Lilly

Numerous equity research analysts have recently analyzed Eli Lilly shares. For instance, Truist Financial raised its price target for Eli Lilly from $1,000.00 to $1,033.00, assigning a "buy" rating in a report dated October 10. Another analyst, Citigroup, increased its target price from $1,060.00 to $1,250.00, also giving the stock a "buy" rating on October 25. Additionally, Sanford C. Bernstein began coverage on Eli Lilly with an "outperform" rating and a target price of $1,100.00. In another recent development, Redburn Atlantic upgraded Eli Lilly to a "hold" rating on November 4. Wells Fargo & Company also raised its price target from $875.00 to $1,000.00 while giving the stock an "overweight" rating on August 9. Currently, out of the research analysts, four have given a hold rating while seventeen have recommended buying the stock. According to data from MarketBeat.com, Eli Lilly enjoys a consensus rating of "Moderate Buy" with an average target price of $1,007.94.

Performance of Eli Lilly's Stock

The stock for Eli Lilly opened at $826.66 on a recent Friday. Over the past year, Eli Lilly has seen a low of $561.65 and a high of $972.53 for its shares. The 50-day simple moving average stands at $843.71, while the 200-day simple moving average is $870.75. Eli Lilly has a market capitalization of $784.76 billion and a P/E ratio of 89.37, with a price-to-earnings-growth ratio of 3.14 and a beta of 0.41. The company's current ratio is 1.27, while the quick ratio is 0.97, and it has a debt-to-equity ratio of 2.03.

Eli Lilly's Dividend Announcement

The company has also announced a quarterly dividend, which is scheduled to be paid on Tuesday, December 10th. The investors listed as record holders on Friday, November 15th, will receive a dividend of $1.30. This translates to an annualized dividend of $5.20 with a yield of 0.63%. The ex-dividend date is also November 15th, and Eli Lilly's current dividend payout ratio is 56.22%.

Insider Transactions

In related news, Donald A. Zakrowski, the Chief Accounting Officer, sold 900 shares of Eli Lilly on November 8th, fetching an average price of $803.38, resulting in a total revenue of $723,042. Following this transaction, the accounting officer now owns 5,480 shares of the company, valued at around $4,402,522.40, which represents a decrease of 14.11% in their ownership stake. This transaction has been recorded in a document filed with the SEC.

About Eli Lilly and Company

Eli Lilly and Company specializes in discovering, developing, and marketing pharmaceuticals on a global scale. The company offers a range of products, including medications for diabetes, obesity, and other health conditions.

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