Eli Lilly and Company (NYSE:LLY) is Jennison Associates LLC’s 7th Largest Position

Jennison Associates LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,947,395 shares of the company’s stock after selling 285,593 shares during the period. Eli Lilly and Company comprises about 3.8% of Jennison Associates LLC’s investment portfolio, making the stock its 7th biggest position. Jennison Associates LLC’s holdings in Eli Lilly and Company were worth $6,154,975,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $30,000. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter worth about $36,000. Finally, Cedar Mountain Advisors LLC boosted its holdings 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. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.3 %

Shares of NYSE LLY opened at $729.62 on Wednesday. The firm has a market cap of $692.64 billion, a price-to-earnings ratio of 78.88, a PEG ratio of 2.82 and a beta of 0.43. 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 has a 52-week low of $561.65 and a 52-week high of $972.53. The business’s 50 day moving average is $875.60 and its two-hundred day moving average is $870.81.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (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 previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.21 EPS for the current 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’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. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Barclays lowered their price objective 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. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and 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.