Eli Lilly and Company (NYSE:LLY) is Braun Stacey Associates Inc.’s 7th Largest Position

Braun Stacey Associates Inc. lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 55,614 shares of the company’s stock after selling 10,035 shares during the period. Eli Lilly and Company comprises approximately 1.9% of Braun Stacey Associates Inc.’s portfolio, making the stock its 7th biggest holding. Braun Stacey Associates Inc.’s holdings in Eli Lilly and Company were worth $49,271,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the second quarter valued at approximately $36,000. Morton Brown Family Wealth LLC boosted its stake in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

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 value 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LLY. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. JPMorgan Chase & Co. raised their price objective 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 objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Bank of America lowered 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 note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $746.20 on Monday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week 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 firm has a market capitalization of $708.38 billion, a P/E ratio of 80.67, a P/E/G ratio of 2.82 and a beta of 0.43. The stock has a 50 day moving average price of $882.65 and a 200 day moving average price of $871.04.

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 the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company 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. 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 payout ratio is currently 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.