BIP Wealth LLC Has $875,000 Holdings in Eli Lilly and Company (NYSE:LLY)

BIP Wealth LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 31.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 988 shares of the company’s stock after purchasing an additional 237 shares during the period. BIP Wealth LLC’s holdings in Eli Lilly and Company were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Eli Lilly and Company in the first quarter valued at $2,138,000. Chesley Taft & Associates LLC increased its stake in shares of Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after acquiring an additional 1,163 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $239,000. Long Run Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 2nd quarter valued at $209,000. Finally, Essex Financial Services Inc. boosted its stake in Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after acquiring an additional 1,556 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LLY shares. BMO Capital Markets increased their price objective 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 report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Citigroup boosted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Four research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $727.57 on Tuesday. The stock has a 50 day moving average of $879.04 and a 200 day moving average of $870.84. The company has a market capitalization of $690.70 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business 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 company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.