Eli Lilly and Company (NYSE:LLY) Stock Position Cut by Congress Asset Management Co.

Congress Asset Management Co. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,677 shares of the company’s stock after selling 432 shares during the quarter. Eli Lilly and Company accounts for 1.2% of Congress Asset Management Co.’s portfolio, making the stock its 7th largest position. Congress Asset Management Co.’s holdings in Eli Lilly and Company were worth $178,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lynx Investment Advisory bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC increased its holdings in shares of Eli Lilly and Company by 45.5% in 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 during the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of Eli Lilly and Company by 53.3% in 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 during the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LLY. Sanford C. Bernstein began coverage on shares of 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. Bank of America dropped their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Barclays lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Stock Down 2.0 %

LLY stock opened at $829.84 on Friday. The firm’s fifty day simple moving average is $913.71 and its 200-day simple moving average is $864.86. The company has a market capitalization of $788.70 billion, a P/E ratio of 89.71, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53.

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 business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.79 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 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.