Oak Harbor Wealth Partners LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Oak Harbor Wealth Partners LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,846 shares of the company’s stock after selling 14 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $1,635,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Twelve Points Wealth Management LLC grew its position in shares of Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the last quarter. Verum Partners LLC grew its position in shares of Eli Lilly and Company by 1.5% during the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after buying an additional 11 shares during the last quarter. Summit Financial Strategies Inc. grew its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after buying an additional 11 shares during the last quarter. Finally, Prio Wealth Limited Partnership grew its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Bank of America cut their price objective on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Trading Down 3.2 %

Eli Lilly and Company stock opened at $785.95 on Friday. The business has a 50 day moving average price of $888.32 and a two-hundred day moving average price of $870.29. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market cap of $746.12 billion, a price-to-earnings ratio of 84.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share 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 during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Eli Lilly and Company will post 13.21 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 given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

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.