Stansberry Asset Management LLC Increases Holdings in Eli Lilly and Company (NYSE:LLY)

Stansberry Asset Management LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,074 shares of the company’s stock after acquiring an additional 479 shares during the quarter. Stansberry Asset Management LLC’s holdings in Eli Lilly and Company were worth $6,267,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Chesley Taft & Associates LLC lifted 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. purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $239,000. Long Run Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $209,000. Essex Financial Services Inc. lifted its stake in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after purchasing an additional 1,556 shares during the period. Finally, Sitrin Capital Management LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $5,986,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Bank of America decreased their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays cut their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Trading Up 2.0 %

NYSE:LLY opened at $829.82 on Thursday. 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 business’s 50 day moving average is $845.38 and its two-hundred day moving average is $871.07. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The company has a market cap of $787.76 billion, a PE ratio of 89.71, a P/E/G ratio of 3.08 and a beta of 0.41.

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

Eli Lilly and Company Announces Dividend

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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 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.