Financial Enhancement Group LLC Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Financial Enhancement Group LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 19.4% in the third quarter, HoldingsChannel reports. The firm owned 1,862 shares of the company’s stock after selling 447 shares during the quarter. Financial Enhancement Group LLC’s holdings in Eli Lilly and Company were worth $1,650,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 1,133,810 shares during the period. International Assets Investment Management LLC raised its holdings in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares during the period. Capital International Investors grew its position in shares of Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares during the period. Finally, GQG Partners LLC increased its stake in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $776.47 on Thursday. 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 has a 1-year low of $561.65 and a 1-year high of $972.53. The stock has a market capitalization of $737.11 billion, a P/E ratio of 83.94, a P/E/G ratio of 3.05 and a beta of 0.43. The business has a 50-day moving average price of $901.75 and a two-hundred day moving average price of $867.32.

Eli Lilly and Company (NYSE:LLY) last posted 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 return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Berenberg Bank upped their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average 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.