Eli Lilly and Company (NYSE:LLY) Stock Position Increased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in Eli Lilly and Company (NYSE:LLY) by 2.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 58,295 shares of the company’s stock after buying an additional 1,279 shares during the quarter. Eli Lilly and Company makes up about 0.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 28th largest position. Pinnacle Associates Ltd.’s holdings in Eli Lilly and Company were worth $51,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $36,000. Morton Brown Family Wealth LLC raised its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $45,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Bank of America lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,025.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Finally, Citigroup lifted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,013.41.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $846.90 on Thursday. The company’s 50 day moving average price is $916.20 and its 200 day moving average price is $865.10. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53. The company has a market capitalization of $804.90 billion, a PE ratio of 124.73, a PEG ratio of 3.24 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts expect that Eli Lilly and Company will post 14.05 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. 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 0.61%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.