MinichMacGregor Wealth Management LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

MinichMacGregor Wealth Management LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.7% during the third quarter, Holdings Channel reports. The fund owned 730 shares of the company’s stock after acquiring an additional 46 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Eli Lilly and Company were worth $647,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&G Plc purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $8,896,000. Virtu Financial LLC purchased a new position in Eli Lilly and Company in the first quarter worth approximately $2,138,000. China Universal Asset Management Co. Ltd. grew its holdings in Eli Lilly and Company by 19.6% during 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 in the last quarter. Mutual Advisors LLC increased its position in shares of Eli Lilly and Company by 404.8% in the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock valued at $48,699,000 after purchasing an additional 50,197 shares during the last quarter. Finally, Chesley Taft & Associates LLC raised its holdings in shares of Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $3.14 during trading on Tuesday, reaching $803.00. The company had a trading volume of 524,736 shares, compared to its average volume of 3,048,208. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock’s fifty day moving average price is $908.15 and its 200 day moving average price is $867.39. The firm has a market capitalization of $762.30 billion, a price-to-earnings ratio of 87.15, a price-to-earnings-growth ratio of 3.09 and a beta of 0.43.

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). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LLY. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Bank of America reduced their price objective 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 report on Thursday, October 31st. Finally, Barclays dropped their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,008.41.

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.