Oppenheimer Asset Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Oppenheimer Asset Management Inc. lowered its position in Eli Lilly and Company (NYSE:LLY) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,263 shares of the company’s stock after selling 127 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Eli Lilly and Company were worth $34,785,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc lifted its position in shares of Eli Lilly and Company by 0.8% during the third quarter. Pinnacle Financial Partners Inc now owns 35,961 shares of the company’s stock worth $31,859,000 after purchasing an additional 275 shares during the last quarter. Hartline Investment Corp raised its stake in shares of Eli Lilly and Company by 33.9% in the 3rd quarter. Hartline Investment Corp now owns 26,958 shares of the company’s stock worth $23,883,000 after buying an additional 6,818 shares in the last quarter. Mengis Capital Management Inc. raised its holdings in shares of Eli Lilly and Company by 2.2% in the 3rd quarter. Mengis Capital Management Inc. now owns 7,559 shares of the company’s stock worth $6,697,000 after purchasing an additional 160 shares in the last quarter. Simmons Bank lifted its position in shares of Eli Lilly and Company by 1.5% in the 3rd quarter. Simmons Bank now owns 8,409 shares of the company’s stock valued at $7,450,000 after acquiring an additional 121 shares in the last quarter. Finally, Haverford Trust Co grew its position in Eli Lilly and Company by 0.9% during the third quarter. Haverford Trust Co now owns 3,515 shares of the company’s stock valued at $3,114,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Berenberg Bank lifted their target price 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. Bank of America cut their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Stock Up 1.1 %

Shares of NYSE:LLY traded up $8.67 during midday trading on Wednesday, hitting $827.53. 243,262 shares of the company’s stock were exchanged, compared to its average volume of 3,102,353. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market cap of $785.59 billion, a PE ratio of 88.52, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43. The stock has a 50 day moving average price of $891.02 and a 200-day moving average price of $870.71.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company 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 20.48% and a return on equity of 71.08%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

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.