Congress Asset Management Co. Has $178.67 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Congress Asset Management Co. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 201,677 shares of the company’s stock after selling 432 shares during the period. Eli Lilly and Company makes up 1.2% of Congress Asset Management Co.’s investment portfolio, making the stock its 7th biggest position. Congress Asset Management Co.’s holdings in Eli Lilly and Company were worth $178,673,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Lynx Investment Advisory bought a new stake in Eli Lilly and Company in the second quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC increased its position in shares of 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 acquiring an additional 15 shares during the period. Cedar Mountain Advisors LLC increased its position in shares of 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 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 second quarter valued at about $45,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $829.84 on Friday. The company has a 50 day simple moving average of $913.71 and a two-hundred day simple moving average of $864.86. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53. 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 company has a market capitalization of $788.70 billion, a price-to-earnings ratio of 89.71, a P/E/G ratio of 3.07 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 analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Guggenheim boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price target 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 report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,009.00.

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.