ABLE Financial Group LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

ABLE Financial Group LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 8.5% during the third quarter, HoldingsChannel reports. The fund owned 1,039 shares of the company’s stock after buying an additional 81 shares during the quarter. ABLE Financial Group LLC’s holdings in Eli Lilly and Company were worth $920,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter worth about $45,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY traded up $25.26 during midday trading on Friday, hitting $822.71. The stock had a trading volume of 1,820,330 shares, compared to its average volume of 3,087,414. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The business has a fifty day moving average of $901.75 and a 200 day moving average of $867.32. The company has a market cap of $781.02 billion, a P/E ratio of 88.89, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. As a group, equities analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analyst Ratings Changes

A number of research analysts have weighed in on LLY shares. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America decreased their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday. Finally, Berenberg Bank upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

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.