Providence Wealth Advisors LLC Has $11.53 Million Position in Eli Lilly and Company (NYSE:LLY)

Providence Wealth Advisors LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,760 shares of the company’s stock after selling 26 shares during the quarter. Eli Lilly and Company comprises 8.4% of Providence Wealth Advisors LLC’s portfolio, making the stock its largest holding. Providence Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $11,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Eli Lilly and Company during the 3rd quarter valued at $30,000. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Finally, Morton Brown Family Wealth LLC lifted its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Down 0.1 %

Eli Lilly and Company stock opened at $788.19 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market capitalization of $748.24 billion, a price-to-earnings ratio of 85.21, a PEG ratio of 2.99 and a beta of 0.43. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company’s fifty day moving average price is $854.42 and its two-hundred day moving average price is $869.27.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LLY. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wolfe Research began coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective for the company. Finally, Guggenheim increased their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

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.