Sycomore Asset Management Has $19.14 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Sycomore Asset Management trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 46.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 21,051 shares of the company’s stock after selling 17,962 shares during the quarter. Eli Lilly and Company accounts for 2.8% of Sycomore Asset Management’s portfolio, making the stock its 7th biggest position. Sycomore Asset Management’s holdings in Eli Lilly and Company were worth $19,142,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. M&G Plc acquired a new position in Eli Lilly and Company in the 1st quarter valued at $8,896,000. Virtu Financial LLC bought a new position in shares of Eli Lilly and Company in the 1st quarter worth about $2,138,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after acquiring an additional 1,620 shares in the last quarter. Chesley Taft & Associates LLC grew its holdings in Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after buying an additional 1,163 shares in the last quarter. Finally, OMNI 360 Wealth Inc. bought a new position in Eli Lilly and Company in the 2nd quarter valued at $239,000. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LLY shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays dropped their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Citigroup raised 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 research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,008.41.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated 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 directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 1.6 %

Shares of Eli Lilly and Company stock traded down $13.39 during trading hours on Thursday, reaching $798.42. 1,608,171 shares of the company’s stock were exchanged, compared to its average volume of 3,108,334. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average of $888.32 and a two-hundred day moving average of $870.29. The stock has a market cap of $757.96 billion, a P/E ratio of 86.30, a P/E/G ratio of 3.10 and a beta of 0.43. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. 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 dividend payout ratio (DPR) is presently 56.22%.

Eli Lilly and Company 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.