Eli Lilly and Company (NYSE:LLY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 731,424 shares of the company’s stock after selling 38,151 shares during the period. Eli Lilly and Company comprises 1.3% of New York State Teachers Retirement System’s investment portfolio, making the stock its 11th biggest position. New York State Teachers Retirement System owned approximately 0.08% of Eli Lilly and Company worth $647,998,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $36,000. Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 6.3 %

Shares of LLY stock opened at $846.90 on Thursday. The business’s 50 day moving average is $916.20 and its two-hundred day moving average is $865.10. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The company has a market capitalization of $804.90 billion, a P/E ratio of 124.73, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 14.05 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm 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 $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.61%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analyst Upgrades and Downgrades

LLY has been the topic of several research analyst reports. Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Berenberg Bank raised 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 report on Wednesday, August 14th. Citigroup raised their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,013.41.

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.