Pitcairn Co. Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Pitcairn Co. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,929 shares of the company’s stock after selling 621 shares during the quarter. Pitcairn Co.’s holdings in Eli Lilly and Company were worth $7,911,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LLY. Bellevue Group AG grew its holdings in shares of Eli Lilly and Company by 3.1% during the 1st quarter. Bellevue Group AG now owns 57,965 shares of the company’s stock worth $45,094,000 after purchasing an additional 1,753 shares during the period. Ceeto Capital Group LLC grew its holdings in shares of Eli Lilly and Company by 4.9% during the 1st quarter. Ceeto Capital Group LLC now owns 2,130 shares of the company’s stock worth $1,657,000 after purchasing an additional 100 shares during the period. Morse Asset Management Inc grew its holdings in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Morse Asset Management Inc now owns 11,139 shares of the company’s stock worth $8,666,000 after purchasing an additional 701 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 10.6% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 501 shares of the company’s stock worth $390,000 after purchasing an additional 48 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,408 shares of the company’s stock worth $3,429,000 after purchasing an additional 278 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $748.01 on Friday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business has a 50-day moving average of $865.01 and a 200-day moving average of $869.01. 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 capitalization of $710.10 billion, a price-to-earnings ratio of 80.87, a PEG ratio of 2.84 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Insider Activity at Eli Lilly and Company

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial increased their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their target price 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. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

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.