Montecito Bank & Trust Buys 766 Shares of Eli Lilly and Company (NYSE:LLY)

Montecito Bank & Trust grew its stake in Eli Lilly and Company (NYSE:LLY) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,731 shares of the company’s stock after acquiring an additional 766 shares during the quarter. Eli Lilly and Company accounts for 1.6% of Montecito Bank & Trust’s holdings, making the stock its 12th biggest position. Montecito Bank & Trust’s holdings in Eli Lilly and Company were worth $9,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Twelve Points Wealth Management LLC raised its holdings in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares during the period. Verum Partners LLC lifted its holdings in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in Eli Lilly and Company by 2.2% in the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the period. Summit Financial Strategies Inc. increased its holdings in shares of Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares in the last quarter. Finally, Prio Wealth Limited Partnership raised its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $776.47 on Thursday. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The firm has a market capitalization of $737.11 billion, a price-to-earnings ratio of 83.94, a P/E/G ratio of 3.05 and a beta of 0.43. The stock’s 50 day moving average price is $901.75 and its two-hundred day moving average price is $867.32. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $12.09 billion. During the same quarter last year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid 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 yield of 0.67%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday. Truist Financial upped their price objective on 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. Guggenheim lifted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

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.