Eli Lilly and Company (NYSE:LLY) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,047 shares of the company’s stock after selling 66 shares during the quarter. Marco Investment Management LLC’s holdings in Eli Lilly and Company were worth $1,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Peterson Financial Group Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company in the third quarter valued at approximately $30,000. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Sanford C. Bernstein initiated 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. Barclays decreased their target price 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, October 31st. Finally, Bank of America cut their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Price Performance

Shares of LLY opened at $748.01 on Friday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a fifty day moving average price of $865.01 and a 200 day moving average price of $869.65. The company has a market cap of $710.10 billion, a P/E ratio of 80.87, a PEG ratio of 2.84 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released 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). The firm 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 was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. On average, research analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on 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 SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

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.