Costello Asset Management INC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Costello Asset Management INC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 72.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 765 shares of the company’s stock after selling 2,001 shares during the quarter. Costello Asset Management INC’s holdings in Eli Lilly and Company were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. M&G Plc purchased a new position in Eli Lilly and Company in the first quarter worth $8,896,000. Virtu Financial LLC acquired a new stake in Eli Lilly and Company in the first quarter worth about $2,138,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after acquiring an additional 1,620 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of 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 purchasing an additional 1,163 shares during the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $239,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LLY shares. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on 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. Bank of America lowered their price target 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $831.54 on Friday. The stock has a market capitalization of $789.40 billion, a price-to-earnings ratio of 89.90, a PEG ratio of 2.94 and a beta of 0.43. The stock has a 50-day moving average of $896.31 and a 200 day moving average of $867.53. 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 twelve month low of $561.65 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a 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%.

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.