Fonville Wealth Management LLC Makes New $343,000 Investment in Eli Lilly and Company (NYSE:LLY)

Fonville Wealth Management LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 388 shares of the company’s stock, valued at approximately $343,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC boosted 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 worth $41,000 after purchasing an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company during the second quarter valued at $45,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Down 1.3 %

LLY stock opened at $818.93 on Friday. The business has a 50-day moving average of $911.04 and a 200-day moving average of $865.33. 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 debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a market capitalization of $778.34 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42.

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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 annualized dividend and a yield of 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. Wells Fargo & Company upped their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Guggenheim upped their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.00.

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.