Adell Harriman & Carpenter Inc. Acquires 1,910 Shares of Eli Lilly and Company (NYSE:LLY)

Adell Harriman & Carpenter Inc. boosted its stake in Eli Lilly and Company (NYSE:LLY) by 19.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,659 shares of the company’s stock after buying an additional 1,910 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Eli Lilly and Company were worth $10,330,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the second quarter worth about $36,000. Cedar Mountain Advisors LLC raised its holdings 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 worth $41,000 after buying an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake 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 worth $41,000 after buying an additional 15 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $45,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LLY shares. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, 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 note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

Eli Lilly and Company Stock Performance

LLY opened at $846.90 on Thursday. 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 stock has a market capitalization of $804.90 billion, a price-to-earnings ratio of 124.73, a PEG ratio of 3.24 and a beta of 0.42. The company has a fifty day moving average of $916.20 and a 200 day moving average of $865.10. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.35). Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. 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 business earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.61%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

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.