Empirical Finance LLC Has $24.40 Million Position in Eli Lilly and Company (NYSE:LLY)

Empirical Finance LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,540 shares of the company’s stock after buying an additional 644 shares during the quarter. Eli Lilly and Company accounts for 1.4% of Empirical Finance LLC’s portfolio, making the stock its 10th largest position. Empirical Finance LLC’s holdings in Eli Lilly and Company were worth $24,399,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LLY. Lynx Investment Advisory bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $36,000. Morton Brown Family Wealth LLC lifted its position 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 valued at $41,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC lifted its position in Eli Lilly and Company by 53.3% in the third 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 last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $45,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.7 %

Eli Lilly and Company stock opened at $773.00 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The business’s fifty day simple moving average is $888.32 and its two-hundred day simple moving average is $870.29. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a market capitalization of $733.82 billion, a price-to-earnings ratio of 84.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LLY. Berenberg Bank boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

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.