Ipswich Investment Management Co. Inc. Sells 241 Shares of Eli Lilly and Company (NYSE:LLY)

Ipswich Investment Management Co. Inc. lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,224 shares of the company’s stock after selling 241 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Eli Lilly and Company were worth $3,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LLY. M&G Plc bought a new position in shares of Eli Lilly and Company during the 1st quarter worth about $8,896,000. Virtu Financial LLC bought a new stake in shares of Eli Lilly and Company during the first quarter valued at approximately $2,138,000. China Universal Asset Management Co. Ltd. raised its position 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 worth $7,699,000 after purchasing an additional 1,620 shares during the period. Chesley Taft & Associates LLC lifted its holdings in shares of Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after purchasing an additional 1,163 shares in the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $239,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE LLY opened at $745.89 on Friday. 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 company has a market cap of $708.09 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The firm’s 50-day simple moving average is $882.65 and its two-hundred day simple moving average is $869.77.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS 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 business 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 company posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on LLY. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Berenberg Bank raised their price target on shares of 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. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their target price 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. 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 note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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.