Westfield Capital Management Co. LP Decreases Position in Eli Lilly and Company (NYSE:LLY)

Westfield Capital Management Co. LP lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,351 shares of the company’s stock after selling 3,452 shares during the period. Westfield Capital Management Co. LP’s holdings in Eli Lilly and Company were worth $23,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth about $2,138,000. Chesley Taft & Associates LLC boosted its holdings in Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after purchasing an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $239,000. Long Run Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $209,000. Finally, Essex Financial Services Inc. lifted its holdings in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $748.01 on Monday. The company has a market cap of $710.10 billion, a P/E ratio of 80.87, a P/E/G ratio of 2.83 and a beta of 0.43. The firm’s fifty day moving average is $865.01 and its two-hundred day moving average is $870.32. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

LLY has been the subject of several research analyst reports. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Berenberg Bank increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.