W.H. Cornerstone Investments Inc. Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

W.H. Cornerstone Investments Inc. reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,059 shares of the company’s stock after selling 254 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Eli Lilly and Company were worth $938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC lifted its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Eli Lilly and Company in the second quarter valued at $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LLY shares. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target 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 note on Friday, August 9th. Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Stock Down 1.6 %

Eli Lilly and Company stock opened at $806.14 on Tuesday. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm has a market capitalization of $765.28 billion, a price-to-earnings ratio of 87.15, a price-to-earnings-growth ratio of 3.09 and a beta of 0.43. The stock’s fifty day moving average is $908.15 and its two-hundred day moving average is $867.39. 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 (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 business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.23 EPS 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 given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is currently 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.