LS Investment Advisors LLC Sells 77 Shares of Eli Lilly and Company (NYSE:LLY)

LS Investment Advisors LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 2,280 shares of the company’s stock after selling 77 shares during the period. LS Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LLY. China Universal Asset Management Co. Ltd. boosted its holdings in Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares during the last quarter. Quent Capital LLC increased its position in Eli Lilly and Company by 5.3% during the first quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock valued at $3,846,000 after acquiring an additional 249 shares during the last quarter. Empowered Funds LLC lifted its holdings in Eli Lilly and Company by 8.3% in the first quarter. Empowered Funds LLC now owns 32,027 shares of the company’s stock valued at $24,916,000 after acquiring an additional 2,452 shares during the period. Guardian Asset Advisors LLC boosted its position in Eli Lilly and Company by 2.7% in the first quarter. Guardian Asset Advisors LLC now owns 3,415 shares of the company’s stock worth $2,657,000 after purchasing an additional 91 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $260,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

LLY stock opened at $797.58 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company’s fifty day moving average price is $901.75 and its 200-day moving average price is $867.32. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a market capitalization of $757.16 billion, a PE ratio of 86.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LLY. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

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.