Cypress Capital Group Sells 1,417 Shares of Eli Lilly and Company (NYSE:LLY)

Cypress Capital Group decreased its stake in Eli Lilly and Company (NYSE:LLY) by 2.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,848 shares of the company’s stock after selling 1,417 shares during the period. Eli Lilly and Company accounts for 5.5% of Cypress Capital Group’s portfolio, making the stock its 3rd biggest position. Cypress Capital Group’s holdings in Eli Lilly and Company were worth $48,592,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at $30,000. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth $36,000. Finally, Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Sanford C. Bernstein assumed 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. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Guggenheim lifted their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $753.41 on Thursday. The business’s 50-day moving average price is $872.25 and its 200 day moving average price is $869.98. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The company has a market capitalization of $715.23 billion, a PE ratio of 81.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.21 earnings per share 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 paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is presently 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.