First County Bank CT Sells 238 Shares of Eli Lilly and Company (NYSE:LLY)

First County Bank CT trimmed its position in Eli Lilly and Company (NYSE:LLY) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,873 shares of the company’s stock after selling 238 shares during the period. Eli Lilly and Company makes up approximately 1.3% of First County Bank CT’s investment portfolio, making the stock its 16th largest holding. First County Bank CT’s holdings in Eli Lilly and Company were worth $2,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in 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 valued at $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 valued at $3,242,296,000 after acquiring an additional 171,595 shares during the period. Janus Henderson Group PLC lifted its holdings in Eli Lilly and Company by 7.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,575,684 shares of the company’s stock valued at $2,781,613,000 after purchasing an additional 243,729 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after purchasing an additional 22,392 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Eli Lilly and Company by 5.1% in the second quarter. American Century Companies Inc. now owns 2,069,881 shares of the company’s stock valued at $1,874,029,000 after purchasing an additional 100,426 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LLY shares. Guggenheim lifted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays reduced their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Wolfe Research began coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $748.91 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a market capitalization of $710.96 billion, a P/E ratio of 80.96, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43. The stock has a fifty day moving average of $868.53 and a 200-day moving average of $869.14.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 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 period last year, the firm posted $0.10 earnings per share. On average, sell-side analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced 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 of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s payout ratio is 56.22%.

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 stock in a transaction that occurred 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 represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

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.