Townsquare Capital LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Townsquare Capital LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 16.9% in the third quarter, Holdings Channel.com reports. The fund owned 28,530 shares of the company’s stock after buying an additional 4,119 shares during the quarter. Townsquare Capital LLC’s holdings in Eli Lilly and Company were worth $25,276,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LLY. Virtu Financial LLC purchased a new position in Eli Lilly and Company in the first quarter valued at about $2,138,000. Chesley Taft & Associates LLC raised its stake in shares of Eli Lilly and Company by 5.4% during the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after buying an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $239,000. Long Run Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $209,000. Finally, Essex Financial Services Inc. increased its holdings in Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after acquiring an additional 1,556 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company 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 completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Trading Up 4.5 %

Eli Lilly and Company stock opened at $789.25 on Wednesday. The firm has a 50-day moving average price of $859.30 and a two-hundred day moving average price of $870.41. The firm has a market capitalization of $749.25 billion, a price-to-earnings ratio of 85.32, a PEG ratio of 2.86 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio 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.