Chevy Chase Trust Holdings LLC Sells 13,123 Shares of Eli Lilly and Company (NYSE:LLY)

Chevy Chase Trust Holdings LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 428,759 shares of the company’s stock after selling 13,123 shares during the period. Eli Lilly and Company accounts for approximately 1.2% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 14th largest position. Chevy Chase Trust Holdings LLC’s holdings in Eli Lilly and Company were worth $379,855,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Chesley Taft & Associates LLC boosted its stake in Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after buying an additional 1,163 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $239,000. Long Run Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $209,000. Essex Financial Services Inc. boosted its stake in Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares in the last quarter. Finally, Sitrin Capital Management LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $5,986,000. 82.53% of the stock is owned by institutional investors.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on 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. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Trading Up 0.9 %

NYSE LLY opened at $795.35 on Monday. The stock has a 50-day simple moving average of $851.90 and a 200 day simple moving average of $870.85. The company has a market capitalization of $755.04 billion, a PE ratio of 85.98, a P/E/G ratio of 3.01 and a beta of 0.43. 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 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 20.48% and a return on equity of 71.08%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. Research analysts forecast that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued 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 0.65%. Eli Lilly and Company’s dividend payout ratio is presently 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.