Adams Diversified Equity Fund Inc. Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Adams Diversified Equity Fund Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 11.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 56,468 shares of the company’s stock after selling 7,100 shares during the period. Eli Lilly and Company comprises 1.8% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 10th biggest holding. Adams Diversified Equity Fund Inc.’s holdings in Eli Lilly and Company were worth $50,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV lifted its holdings in Eli Lilly and Company by 2.5% during the first quarter. Azzad Asset Management Inc. ADV now owns 1,814 shares of the company’s stock valued at $1,411,000 after purchasing an additional 45 shares during the last quarter. TCP Asset Management LLC bought a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $201,000. Valley National Advisers Inc. lifted its stake in shares of Eli Lilly and Company by 2.9% during the 1st quarter. Valley National Advisers Inc. now owns 5,901 shares of the company’s stock valued at $4,591,000 after buying an additional 165 shares in the last quarter. Lake Street Private Wealth LLC boosted its holdings in Eli Lilly and Company by 5.7% in the 1st quarter. Lake Street Private Wealth LLC now owns 8,175 shares of the company’s stock worth $6,360,000 after buying an additional 440 shares during the period. Finally, Meadow Creek Wealth Advisors LLC grew its stake in Eli Lilly and Company by 112.4% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,161 shares of the company’s stock valued at $3,237,000 after buying an additional 2,202 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LLY shares. Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America raised their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Trading Down 6.3 %

NYSE LLY opened at $846.90 on Thursday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a 50 day simple moving average of $916.20 and a two-hundred day simple moving average of $865.10. The stock has a market cap of $804.90 billion, a P/E ratio of 124.73, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 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.