Fernwood Investment Management LLC Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Fernwood Investment Management LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 3.2% in the 3rd quarter, Holdings Channel reports. The fund owned 9,060 shares of the company’s stock after selling 303 shares during the quarter. Eli Lilly and Company comprises 2.6% of Fernwood Investment Management LLC’s portfolio, making the stock its 8th biggest holding. Fernwood Investment Management LLC’s holdings in Eli Lilly and Company were worth $8,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the 2nd quarter worth $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $45,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.3 %

LLY stock opened at $818.93 on Monday. The business has a fifty day moving average of $911.04 and a 200-day moving average of $866.97. The company has a market cap of $777.43 billion, a P/E ratio of 88.53, a PEG ratio of 3.13 and a beta of 0.43. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

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 analysts’ consensus estimates 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 firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts expect that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.63%. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research reports. Bank of America lowered their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,025.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.00.

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.