IHT Wealth Management LLC Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

IHT Wealth Management LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,177 shares of the company’s stock after selling 27,255 shares during the period. IHT Wealth Management LLC’s holdings in Eli Lilly and Company were worth $16,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position in shares of Eli Lilly and Company by 5.1% during the third quarter. Integrated Wealth Concepts LLC now owns 27,919 shares of the company’s stock valued at $24,735,000 after buying an additional 1,358 shares during the period. Investment Management Corp of Ontario increased its stake in Eli Lilly and Company by 55.1% in the 3rd quarter. Investment Management Corp of Ontario now owns 29,382 shares of the company’s stock worth $26,031,000 after acquiring an additional 10,442 shares during the last quarter. Harmony Asset Management LLC raised its holdings in shares of Eli Lilly and Company by 3.2% in the 3rd quarter. Harmony Asset Management LLC now owns 5,773 shares of the company’s stock valued at $5,115,000 after acquiring an additional 178 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Eli Lilly and Company by 118.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 7,328 shares of the company’s stock valued at $6,492,000 after acquiring an additional 3,972 shares in the last quarter. Finally, Hollow Brook Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 84.6% during the third quarter. Hollow Brook Wealth Management LLC now owns 480 shares of the company’s stock worth $425,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. 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 on the stock. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Trading Up 1.6 %

LLY traded up $13.09 during midday trading on Tuesday, reaching $812.89. 620,870 shares of the company’s stock traded hands, compared to its average volume of 3,200,065. The firm has a fifty day moving average of $851.90 and a two-hundred day moving average of $870.85. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a market capitalization of $771.69 billion, a price-to-earnings ratio of 86.49, a P/E/G ratio of 3.01 and a beta of 0.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

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

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.64%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

About Eli Lilly and Company

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.