Harmony Asset Management LLC Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Harmony Asset Management LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,773 shares of the company’s stock after acquiring an additional 178 shares during the quarter. Eli Lilly and Company accounts for 1.9% of Harmony Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Harmony Asset Management LLC’s holdings in Eli Lilly and Company were worth $5,115,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LLY. Hilltop Holdings Inc. lifted its holdings in shares of Eli Lilly and Company by 118.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,328 shares of the company’s stock valued at $6,492,000 after acquiring an additional 3,972 shares in the last quarter. Hollow Brook Wealth Management LLC grew its stake in Eli Lilly and Company by 84.6% in the third quarter. Hollow Brook Wealth Management LLC now owns 480 shares of the company’s stock valued at $425,000 after purchasing an additional 220 shares in the last quarter. Holocene Advisors LP boosted its holdings in Eli Lilly and Company by 257.1% during the third quarter. Holocene Advisors LP now owns 437,603 shares of the company’s stock valued at $387,690,000 after acquiring an additional 315,065 shares during the period. Garden State Investment Advisory Services LLC raised its stake in shares of Eli Lilly and Company by 16.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 2,634 shares of the company’s stock valued at $2,338,000 after buying an additional 372 shares in the last quarter. Finally, Concentric Capital Strategies LP increased its stake in shares of Eli Lilly and Company by 11.0% in the third quarter. Concentric Capital Strategies LP now owns 20,110 shares of the company’s stock valued at $17,816,000 after buying an additional 1,991 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LLY. Berenberg Bank raised their target price on shares of 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. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Wells Fargo & Company lifted their price target 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. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Bank of America lowered their price objective on shares of 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 research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Trading Up 0.6 %

NYSE:LLY opened at $800.05 on Tuesday. The company has a market capitalization of $759.50 billion, a P/E ratio of 86.49, a P/E/G ratio of 3.01 and a beta of 0.41. The stock’s 50 day moving average price is $851.90 and its 200 day moving average price is $870.85. 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.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) 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.