Bank of Marin Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Bank of Marin lessened its position in Eli Lilly and Company (NYSE:LLY) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,661 shares of the company’s stock after selling 29 shares during the quarter. Eli Lilly and Company makes up 1.2% of Bank of Marin’s investment portfolio, making the stock its 22nd largest holding. Bank of Marin’s holdings in Eli Lilly and Company were worth $1,472,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter worth approximately $36,000. Morton Brown Family Wealth LLC boosted its holdings in Eli Lilly and Company by 45.5% in the second 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 in the last quarter. Cedar Mountain Advisors LLC increased its stake in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in Eli Lilly and Company during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly 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 filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $22.02 during trading hours on Friday, reaching $764.21. The company’s stock had a trading volume of 1,180,217 shares, compared to its average volume of 3,110,417. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company’s 50 day simple moving average is $885.79 and its 200 day simple moving average is $869.71. The stock has a market cap of $725.48 billion, a P/E ratio of 82.43, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.68%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research reports. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. BMO Capital Markets boosted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Bank of America lowered their price objective on 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. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.