Adams Diversified Equity Fund Inc. Sells 7,100 Shares of Eli Lilly and Company (NYSE:LLY)

Adams Diversified Equity Fund Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,468 shares of the company’s stock after selling 7,100 shares during the quarter. Eli Lilly and Company accounts for 1.8% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 10th largest position. Adams Diversified Equity Fund Inc.’s holdings in Eli Lilly and Company were worth $50,027,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. International Assets Investment Management LLC lifted its stake in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Capital International Investors increased its stake in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares during the last quarter. Finally, GQG Partners LLC raised its stake in Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Berenberg Bank upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Guggenheim increased their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Truist Financial raised their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Stock Performance

Shares of 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 market cap of $804.90 billion, a PE ratio of 124.73, a P/E/G ratio of 3.24 and a beta of 0.42. The stock has a 50-day moving average of $916.20 and a 200-day moving average of $865.10. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Eli Lilly and 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.