Acorn Wealth Advisors LLC Grows Stake in Eli Lilly and Company (NYSE:LLY)

Acorn Wealth Advisors LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 20.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 689 shares of the company’s stock after acquiring an additional 117 shares during the period. Acorn Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $610,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position 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 in the last quarter. Fisher Asset Management LLC raised its position in shares of Eli Lilly and Company by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock worth $4,481,175,000 after acquiring an additional 169,391 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Eli Lilly and Company by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after acquiring an additional 171,595 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Eli Lilly and Company by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after acquiring an additional 22,392 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Eli Lilly and Company by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 2,069,881 shares of the company’s stock worth $1,874,029,000 after acquiring an additional 100,426 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $1.51 on Monday, reaching $746.50. The stock had a trading volume of 387,243 shares, compared to its average volume of 3,181,396. The stock has a market cap of $708.67 billion, a P/E ratio of 80.87, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50 day simple moving average of $865.01 and a 200 day simple moving average of $870.32.

Eli Lilly and Company (NYSE:LLY) last released its 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). The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities research analysts expect that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Bank of America reduced 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 research report on Thursday, October 31st. Guggenheim raised their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

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.