Cornerstone Wealth Group LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Cornerstone Wealth Group LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,563 shares of the company’s stock after buying an additional 324 shares during the quarter. Eli Lilly and Company makes up approximately 0.9% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 24th biggest holding. Cornerstone Wealth Group LLC’s holdings in Eli Lilly and Company were worth $11,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Swedbank AB purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares in the last quarter. Finally, Wulff Hansen & CO. raised its stake in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $846.90 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $804.90 billion, a P/E ratio of 124.73, a P/E/G ratio of 3.24 and a beta of 0.42. The business has a fifty day simple moving average of $916.20 and a two-hundred day simple moving average of $865.10. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53.

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

Eli Lilly and Company Dividend Announcement

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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.61%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LLY shares. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Bank of America increased 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 research report on Friday, August 9th. Berenberg Bank increased 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 research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Finally, Guggenheim increased their price target on shares of 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

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.