Eli Lilly and Company (NYSE:LLY) Stake Lessened by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 531 shares of the company’s stock after selling 21 shares during the period. Marks Group Wealth Management Inc’s holdings in Eli Lilly and Company were worth $470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares in the last quarter. Quent Capital LLC lifted its stake in Eli Lilly and Company by 5.3% during the first quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock valued at $3,846,000 after purchasing an additional 249 shares during the last quarter. W.H. Cornerstone Investments Inc. boosted its holdings in Eli Lilly and Company by 44.6% during the first quarter. W.H. Cornerstone Investments Inc. now owns 1,213 shares of the company’s stock worth $944,000 after buying an additional 374 shares in the last quarter. Manchester Capital Management LLC grew its position in Eli Lilly and Company by 33.9% in the first quarter. Manchester Capital Management LLC now owns 4,049 shares of the company’s stock worth $3,150,000 after buying an additional 1,025 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Eli Lilly and Company by 5.1% in the first quarter. Advisory Services Network LLC now owns 45,528 shares of the company’s stock valued at $35,418,000 after buying an additional 2,225 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.7 %

NYSE:LLY opened at $776.47 on Thursday. The company has a market capitalization of $737.11 billion, a P/E ratio of 83.94, a P/E/G ratio of 3.05 and a beta of 0.43. The stock’s 50 day moving average price is $901.75 and its 200 day moving average price is $867.32. 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 has a 52 week low of $561.65 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Bank of America decreased 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 report on Thursday, October 31st. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned 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 an average target price of $1,008.41.

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.