Pacer Advisors Inc. Sells 9,218 Shares of Eli Lilly and Company (NYSE:LLY)

Pacer Advisors Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,799 shares of the company’s stock after selling 9,218 shares during the period. Pacer Advisors Inc.’s holdings in Eli Lilly and Company were worth $52,092,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth $30,000. Lynx Investment Advisory bought a new stake in Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the second quarter valued at about $36,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LLY. BMO Capital Markets lifted their price objective 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. Bank of America cut their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Berenberg Bank increased 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 report on Wednesday, August 14th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $748.91 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The business’s 50 day moving average is $868.53 and its two-hundred day moving average is $869.14. The company has a market capitalization of $710.96 billion, a P/E ratio of 80.96, a P/E/G ratio of 2.76 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during 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%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.69%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.