Eli Lilly and Company (NYSE:LLY) Stock Position Lessened by Avitas Wealth Management LLC

Avitas Wealth Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,090 shares of the company’s stock after selling 71 shares during the period. Eli Lilly and Company accounts for about 2.3% of Avitas Wealth Management LLC’s holdings, making the stock its 7th biggest position. Avitas Wealth Management LLC’s holdings in Eli Lilly and Company were worth $16,027,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. M&G Plc acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $8,896,000. Virtu Financial LLC acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $2,138,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 404.8% during the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after purchasing an additional 50,197 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Eli Lilly and Company by 0.6% during the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after purchasing an additional 430 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 6.3 %

Shares of LLY stock opened at $846.90 on Thursday. The firm has a 50-day moving average price of $916.20 and a 200 day moving average price of $865.10. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The company has a market capitalization of $804.90 billion, a price-to-earnings ratio of 124.73, a PEG ratio of 3.24 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LLY. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Barclays boosted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, 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 stock an “outperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

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.