S&CO Inc. Trims Holdings in Eli Lilly and Company (NYSE:LLY)

S&CO Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,110 shares of the company’s stock after selling 40 shares during the quarter. S&CO Inc.’s holdings in Eli Lilly and Company were worth $5,413,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its stake in 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 last quarter. Acadian Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 6.6% in the first 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 during the period. Edgestream Partners L.P. increased its holdings in shares of Eli Lilly and Company by 13.8% in the first quarter. Edgestream Partners L.P. now owns 5,348 shares of the company’s stock worth $4,161,000 after buying an additional 649 shares during the period. Covestor Ltd increased its holdings in Eli Lilly and Company by 6.5% during the 1st quarter. Covestor Ltd now owns 296 shares of the company’s stock valued at $230,000 after purchasing an additional 18 shares during the period. Finally, Alley Investment Management Company LLC increased its holdings in Eli Lilly and Company by 0.4% during the 1st quarter. Alley Investment Management Company LLC now owns 10,623 shares of the company’s stock valued at $8,264,000 after purchasing an additional 38 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LLY shares. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $746.20 on Friday. The firm has a market cap of $708.38 billion, a P/E ratio of 80.67, a P/E/G ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm’s 50 day moving average price is $882.65 and its 200-day moving average price is $870.38.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS 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 during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. 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 dividend payout ratio (DPR) 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.