Hollencrest Capital Management Has $2.92 Million Position in Eli Lilly and Company (NYSE:LLY)

Hollencrest Capital Management increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 145.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,295 shares of the company’s stock after acquiring an additional 1,952 shares during the quarter. Hollencrest Capital Management’s holdings in Eli Lilly and Company were worth $2,919,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 2nd quarter valued at about $36,000. Morton Brown Family Wealth LLC grew its position 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 in the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of 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 purchasing an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at approximately $45,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $28.26 during mid-day trading on Friday, reaching $825.71. 2,009,653 shares of the stock traded hands, compared to its average volume of 3,087,414. The business’s 50-day moving average is $901.75 and its 200-day moving average is $867.32. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $783.86 billion, a PE ratio of 88.89, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LLY shares. Citigroup raised their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barclays cut their target price 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. Bank of America decreased their price target 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. Truist Financial upped their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Berenberg Bank lifted their target price 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 analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company 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.