LJI Wealth Management LLC Purchases 246 Shares of Eli Lilly and Company (NYSE:LLY)

LJI Wealth Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,004 shares of the company’s stock after buying an additional 246 shares during the period. Eli Lilly and Company makes up about 1.3% of LJI Wealth Management LLC’s portfolio, making the stock its 14th largest position. LJI Wealth Management LLC’s holdings in Eli Lilly and Company were worth $6,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $7,699,000 after purchasing an additional 1,620 shares in the last quarter. M&G Plc acquired a new stake in Eli Lilly and Company during the 1st quarter worth approximately $8,896,000. Jupiter Asset Management Ltd. lifted its stake in Eli Lilly and Company by 65.8% in the first quarter. Jupiter Asset Management Ltd. now owns 20,412 shares of the company’s stock valued at $15,880,000 after buying an additional 8,101 shares in the last quarter. Acadian Asset Management LLC boosted 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 valued at $28,699,000 after buying an additional 2,289 shares during the period. Finally, Patten & Patten Inc. TN increased its position in shares of Eli Lilly and Company by 6.7% during the first quarter. Patten & Patten Inc. TN now owns 16,686 shares of the company’s stock worth $12,981,000 after acquiring an additional 1,051 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $38.66 during trading on Friday, reaching $746.20. 7,334,562 shares of the company’s stock were exchanged, compared to its average volume of 3,137,986. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The firm’s fifty day moving average price is $882.65 and its 200-day moving average price is $869.77. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $708.38 billion, a PE ratio of 80.64, a PEG ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, November 15th will be given 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 yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. 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 report on Friday, October 25th. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday. They issued an “outperform” rating and a $1,000.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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 shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

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.