Charles Schwab Investment Management Inc. Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Charles Schwab Investment Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,835,220 shares of the company’s stock after purchasing an additional 10,204 shares during the period. Eli Lilly and Company accounts for 0.8% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 22nd biggest position. Charles Schwab Investment Management Inc.’s holdings in Eli Lilly and Company were worth $4,283,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Twelve Points Wealth Management LLC increased its position in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC lifted its position in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after buying an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the period. Summit Financial Strategies Inc. boosted its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after acquiring an additional 11 shares during the last quarter. Finally, Prio Wealth Limited Partnership increased its position in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $740.76 on Thursday. The stock has a market cap of $703.22 billion, a price-to-earnings ratio of 81.45, a PEG ratio of 2.76 and a beta of 0.43. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The business has a 50 day moving average price of $872.25 and a 200 day moving average price of $869.98.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. 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, October 31st. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Citigroup upped their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted 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 research report on Friday, August 9th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and 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.