Arthur M. Cohen & Associates LLC Sells 307 Shares of Eli Lilly and Company (NYSE:LLY)

Arthur M. Cohen & Associates LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,473 shares of the company’s stock after selling 307 shares during the period. Eli Lilly and Company accounts for 4.1% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 10th biggest position. Arthur M. Cohen & Associates LLC’s holdings in Eli Lilly and Company were worth $22,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LLY. International Assets Investment Management LLC lifted its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Swedbank AB purchased a new position in Eli Lilly and Company during the first quarter valued at $932,797,000. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Eli Lilly and Company by 92,759.9% during the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY opened at $805.03 on Tuesday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The stock has a market cap of $764.23 billion, a PE ratio of 87.15, a P/E/G ratio of 3.09 and a beta of 0.43. The firm has a 50-day simple moving average of $908.15 and a two-hundred day simple moving average of $867.39. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the business earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. As a group, analysts forecast that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Announces Dividend

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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LLY shares. BMO Capital Markets increased their target price 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 report on Friday, August 9th. Barclays reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup increased their target price 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 report on Friday, October 25th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price 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.