Eli Lilly and Company (NYSE:LLY) Stake Cut by Independent Advisor Alliance

Independent Advisor Alliance lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,583 shares of the company’s stock after selling 335 shares during the quarter. Eli Lilly and Company makes up 1.3% of Independent Advisor Alliance’s investment portfolio, making the stock its 15th largest holding. Independent Advisor Alliance’s holdings in Eli Lilly and Company were worth $35,068,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at approximately $30,000. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the second quarter valued at approximately $36,000. Finally, Morton Brown Family Wealth LLC lifted its stake in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $748.01 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50-day moving average of $865.01 and a 200-day moving average of $870.32. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The company has a market capitalization of $710.10 billion, a price-to-earnings ratio of 80.87, a PEG ratio of 2.83 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on 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. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Truist Financial lifted their target price 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’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 sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.