Eli Lilly and Company (NYSE:LLY) Shares Sold by Camden National Bank

Camden National Bank reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,587 shares of the company’s stock after selling 58 shares during the quarter. Camden National Bank’s holdings in Eli Lilly and Company were worth $1,406,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $30,000. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company in the second quarter valued at approximately $36,000. Finally, Cedar Mountain Advisors LLC increased its holdings in shares of 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 buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on 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 directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on LLY. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Price Performance

LLY opened at $748.01 on Friday. 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 company’s 50-day moving average price is $865.01 and its 200 day moving average price is $869.01. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm has a market cap of $710.10 billion, a price-to-earnings ratio of 80.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 earned $0.10 earnings per share. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.