Harvest Portfolios Group Inc. Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Harvest Portfolios Group Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 30.5% in the 3rd quarter, Holdings Channel reports. The firm owned 86,305 shares of the company’s stock after acquiring an additional 20,146 shares during the quarter. Eli Lilly and Company accounts for approximately 2.5% of Harvest Portfolios Group Inc.’s portfolio, making the stock its 3rd largest position. Harvest Portfolios Group Inc.’s holdings in Eli Lilly and Company were worth $76,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth about $36,000. Morton Brown Family Wealth LLC grew its holdings in shares of 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 worth $41,000 after purchasing an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Barclays dropped their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $811.00 on Wednesday. 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 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $769.90 billion, a P/E ratio of 87.20, a PEG ratio of 3.09 and a beta of 0.43. The stock’s 50 day moving average is $905.20 and its 200 day moving average is $867.96.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 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 the consensus estimate of $12.09 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

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.