Massachusetts Financial Services Co. MA Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Massachusetts Financial Services Co. MA cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 24.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,930,868 shares of the company’s stock after selling 633,763 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Eli Lilly and Company were worth $1,710,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the third quarter valued at approximately $30,000. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Finally, Cedar Mountain Advisors LLC raised its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 3.2 %

Shares of NYSE:LLY opened at $753.41 on Thursday. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm’s 50 day moving average price is $872.25 and its 200 day moving average price is $869.98. 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 stock has a market cap of $715.23 billion, a price-to-earnings ratio of 81.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 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 analyst estimates of $12.09 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed 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. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LLY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Sanford C. Bernstein started coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Guggenheim upped their price target on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Redburn Atlantic upgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.