Aberdeen Wealth Management LLC Sells 79 Shares of Eli Lilly and Company (NYSE:LLY)

Aberdeen Wealth Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 9.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 776 shares of the company’s stock after selling 79 shares during the quarter. Aberdeen Wealth Management LLC’s holdings in Eli Lilly and Company were worth $687,000 at the end of the most recent reporting period.

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

Eli Lilly and Company Stock Down 2.5 %

NYSE:LLY opened at $727.57 on Tuesday. The company has a market cap of $690.70 billion, a PE ratio of 78.66, a P/E/G ratio of 2.82 and a beta of 0.43. The firm’s 50 day simple moving average is $879.04 and its 200 day simple moving average is $870.84. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a one year low of $561.65 and a one year 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 (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. On average, research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.71%. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup raised their target price 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. Sanford C. Bernstein started 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 target on the stock. Finally, Bank of America dropped their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.