Eagle Asset Management Inc. Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Eagle Asset Management Inc. raised its position in Eli Lilly and Company (NYSE:LLY) by 33.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,394 shares of the company’s stock after acquiring an additional 7,425 shares during the quarter. Eagle Asset Management Inc.’s holdings in Eli Lilly and Company were worth $24,443,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the third quarter valued at about $30,000. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the second quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC grew its holdings in 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 worth $41,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America cut their price objective 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. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Trading Down 0.3 %

Shares of LLY stock opened at $748.01 on Friday. The stock has a fifty day simple moving average of $865.01 and a two-hundred day simple moving average of $869.01. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The firm has a market capitalization of $710.10 billion, a PE ratio of 80.87, a PEG ratio of 2.84 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27.

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

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and 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.