Larson Financial Group LLC Sells 300 Shares of Eli Lilly and Company (NYSE:LLY)

Larson Financial Group LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,844 shares of the company’s stock after selling 300 shares during the quarter. Eli Lilly and Company accounts for approximately 0.7% of Larson Financial Group LLC’s holdings, making the stock its 29th biggest holding. Larson Financial Group LLC’s holdings in Eli Lilly and Company were worth $13,151,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Eli Lilly and Company during the 1st quarter worth $2,138,000. Chesley Taft & Associates LLC grew its position in shares of Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of Eli Lilly and Company in the second quarter valued at about $239,000. Long Run Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the second quarter worth approximately $209,000. Finally, Essex Financial Services Inc. raised its position in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 0.3 %

Shares of NYSE:LLY opened at $748.01 on Friday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a 50 day moving average price of $865.01 and a 200-day moving average price of $869.65. The firm has a market capitalization of $710.10 billion, a P/E ratio of 80.87, a P/E/G ratio of 2.84 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the business earned $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LLY shares. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut 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. Bank of America reduced their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

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.