Pinnacle Associates Ltd. Boosts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Pinnacle Associates Ltd. boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,295 shares of the company’s stock after purchasing an additional 1,279 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Pinnacle Associates Ltd.’s portfolio, making the stock its 28th biggest holding. Pinnacle Associates Ltd.’s holdings in Eli Lilly and Company were worth $51,646,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LLY. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC raised its stake 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 acquiring an additional 15 shares during the period. Cedar Mountain Advisors LLC raised its stake in shares of 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 acquiring an additional 16 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Berenberg Bank raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Bank of America raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Trading Down 6.3 %

NYSE LLY opened at $846.90 on Thursday. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53. The company has a 50-day simple moving average of $916.20 and a 200-day simple moving average of $865.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $804.90 billion, a PE ratio of 124.73, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.35). Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.