Red Cedar Investment Management LLC Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Red Cedar Investment Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,469 shares of the company’s stock after selling 107 shares during the period. Eli Lilly and Company comprises about 1.2% of Red Cedar Investment Management LLC’s holdings, making the stock its 12th largest position. Red Cedar Investment Management LLC’s holdings in Eli Lilly and Company were worth $9,275,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LLY. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the second quarter valued at $36,000. Morton Brown Family Wealth LLC grew its holdings in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. Cedar Mountain Advisors LLC grew its stake in Eli Lilly and Company by 53.3% during the third 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 period. Finally, Unique Wealth Strategies LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $806.14 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a market capitalization of $765.28 billion, a PE ratio of 87.15, a PEG ratio of 3.09 and a beta of 0.43. The stock’s fifty day moving average is $908.15 and its 200-day moving average is $867.39.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced 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. 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%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets increased their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Bank of America decreased their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Finally, Citigroup raised their target price on 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. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

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.