Freedom Investment Management Inc. Purchases 314 Shares of Eli Lilly and Company (NYSE:LLY)

Freedom Investment Management Inc. lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.2% in the third quarter, HoldingsChannel.com reports. The fund owned 4,142 shares of the company’s stock after buying an additional 314 shares during the period. Freedom Investment Management Inc.’s holdings in Eli Lilly and Company were worth $3,670,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Cynosure Group LLC boosted its stake in shares of Eli Lilly and Company by 21.7% in the 3rd quarter. Cynosure Group LLC now owns 2,122 shares of the company’s stock valued at $1,880,000 after purchasing an additional 379 shares in the last quarter. RS Crum Inc. lifted its stake in Eli Lilly and Company by 29.6% in the 3rd quarter. RS Crum Inc. now owns 407 shares of the company’s stock valued at $360,000 after purchasing an additional 93 shares during the last quarter. Hardy Reed LLC acquired a new stake in Eli Lilly and Company in the third quarter valued at approximately $444,000. Townsquare Capital LLC grew its stake in shares of Eli Lilly and Company by 16.9% during the third quarter. Townsquare Capital LLC now owns 28,530 shares of the company’s stock worth $25,276,000 after buying an additional 4,119 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 2.4% during the third quarter. Baldwin Investment Management LLC now owns 8,354 shares of the company’s stock worth $7,401,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Truist Financial lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Berenberg Bank upped their price target on shares of 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. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $789.25 on Wednesday. The firm has a market cap of $749.25 billion, a PE ratio of 85.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The business’s 50 day moving average price is $859.30 and its two-hundred day moving average price is $870.41.

Eli Lilly and Company (NYSE:LLY) last issued its 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 return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Eli Lilly and Company 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.