Mach 1 Financial Group LLC Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Mach 1 Financial Group LLC raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 22.6% in the third quarter, Holdings Channel reports. The institutional investor owned 798 shares of the company’s stock after buying an additional 147 shares during the quarter. Eli Lilly and Company accounts for about 0.4% of Mach 1 Financial Group LLC’s holdings, making the stock its 28th biggest position. Mach 1 Financial Group LLC’s holdings in Eli Lilly and Company were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

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

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $831.54 on Friday. The company has a market capitalization of $789.40 billion, a P/E ratio of 89.90, a P/E/G ratio of 2.94 and a beta of 0.43. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The firm’s 50 day simple moving average is $896.31 and its two-hundred day simple moving average is $867.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Analysts Set New Price Targets

A number of analysts have recently commented on LLY shares. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Bank of America decreased their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Truist Financial raised their price target 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. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, 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 target price on the stock. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,008.41.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on 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 owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.