Eli Lilly and Company (NYSE:LLY) Shares Sold by SouthState Corp

SouthState Corp cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,133 shares of the company’s stock after selling 750 shares during the quarter. SouthState Corp’s holdings in Eli Lilly and Company were worth $9,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of 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 worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Swedbank AB purchased a new position in shares of Eli Lilly and Company in the first quarter valued at $932,797,000. Pathway Financial Advisers LLC increased its position in shares of Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after buying an additional 1,021,287 shares in the last quarter. Wulff Hansen & CO. boosted its position in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares in the last quarter. Finally, Comerica Bank grew its stake in Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $727.57 on Tuesday. The company has a market capitalization of $690.70 billion, a PE ratio of 78.66, a P/E/G ratio of 2.82 and a beta of 0.43. 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 stock’s 50 day moving average is $879.04 and its two-hundred day moving average is $870.84. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets raised their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research report on Friday. They issued an “outperform” rating and a $1,000.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.