RIA Advisory Group LLC Buys New Holdings in Eli Lilly and Company (NYSE:LLY)

RIA Advisory Group LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the third quarter, HoldingsChannel.com reports. The fund acquired 319 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. China Universal Asset Management Co. Ltd. increased its stake in Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares during the last quarter. M&G Plc purchased a new stake in Eli Lilly and Company during the first quarter valued at $8,896,000. Jupiter Asset Management Ltd. lifted its position in Eli Lilly and Company by 65.8% during the first quarter. Jupiter Asset Management Ltd. now owns 20,412 shares of the company’s stock valued at $15,880,000 after purchasing an additional 8,101 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Eli Lilly and Company by 6.6% in the 1st quarter. Acadian Asset Management LLC now owns 36,897 shares of the company’s stock worth $28,699,000 after buying an additional 2,289 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its holdings in shares of Eli Lilly and Company by 6.7% in the 1st quarter. Patten & Patten Inc. TN now owns 16,686 shares of the company’s stock worth $12,981,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday. They set an “outperform” rating and a $1,000.00 target price on the stock. Bank of America lowered their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Citigroup increased their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $38.66 during trading hours on Friday, reaching $746.20. The company had a trading volume of 7,334,562 shares, compared to its average volume of 3,137,986. 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 has a 1-year low of $561.65 and a 1-year high of $972.53. The business’s 50 day moving average price is $882.65 and its 200-day moving average price is $869.77. The firm has a market cap of $708.38 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. 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 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 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.