River Street Advisors LLC Has $2.79 Million Stake in Eli Lilly and Company (NYSE:LLY)

River Street Advisors LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,149 shares of the company’s stock after selling 17 shares during the period. Eli Lilly and Company accounts for 1.5% of River Street Advisors LLC’s portfolio, making the stock its 16th largest holding. River Street Advisors LLC’s holdings in Eli Lilly and Company were worth $2,790,000 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. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the second quarter worth $36,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $45,000. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. Truist Financial raised their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America lowered their price target 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. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated 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 owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $38.66 during trading hours on Friday, reaching $746.20. 7,334,562 shares of the stock were exchanged, compared to its average volume of 3,137,986. The stock has a 50 day moving average of $882.65 and a two-hundred day moving average of $869.77. The company has a market cap of $708.38 billion, a P/E ratio of 80.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for 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 for the quarter was up 20.4% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. 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.