Beck Capital Management LLC Sells 1,825 Shares of Eli Lilly and Company (NYSE:LLY)

Beck Capital Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 20.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,095 shares of the company’s stock after selling 1,825 shares during the quarter. Eli Lilly and Company makes up approximately 1.7% of Beck Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Beck Capital Management LLC’s holdings in Eli Lilly and Company were worth $6,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LLY. Benjamin Edwards Inc. boosted its stake in shares of Eli Lilly and Company by 316.6% during the third quarter. Benjamin Edwards Inc. now owns 13,463 shares of the company’s stock valued at $11,943,000 after purchasing an additional 10,231 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $19,094,000. Kestra Investment Management LLC acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $2,633,000. Point72 Hong Kong Ltd bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $22,983,000. Finally, Paradigm Capital Management LLC NV acquired a new position in Eli Lilly and Company in the 3rd quarter valued at approximately $425,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $795.35 on Monday. The stock has a 50-day moving average price of $851.90 and a 200 day moving average price of $870.85. The stock has a market capitalization of $755.04 billion, a P/E ratio of 85.98, a P/E/G ratio of 3.01 and a beta of 0.43. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. 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 (NYSE:LLY) last announced 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 net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts forecast that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LLY. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 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, November 4th. Finally, Barclays cut their price target 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. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

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.