Community Bank N.A. Sells 696 Shares of Eli Lilly and Company (NYSE:LLY)

Community Bank N.A. cut its stake in Eli Lilly and Company (NYSE:LLY) by 18.2% during the third quarter, HoldingsChannel reports. The firm owned 3,123 shares of the company’s stock after selling 696 shares during the period. Community Bank N.A.’s holdings in Eli Lilly and Company were worth $2,767,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Concentric Capital Strategies LP grew its stake in Eli Lilly and Company by 11.0% in the 3rd quarter. Concentric Capital Strategies LP now owns 20,110 shares of the company’s stock worth $17,816,000 after acquiring an additional 1,991 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Eli Lilly and Company by 4.8% in the third quarter. Beacon Investment Advisory Services Inc. now owns 19,950 shares of the company’s stock worth $17,675,000 after purchasing an additional 906 shares in the last quarter. Benjamin Edwards Inc. raised its position in Eli Lilly and Company by 316.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,463 shares of the company’s stock valued at $11,943,000 after purchasing an additional 10,231 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Eli Lilly and Company during the 3rd quarter valued at $19,094,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $2,633,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LLY shares. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price objective for the company. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Citigroup upped their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Stock Up 0.9 %

LLY stock opened at $795.35 on Monday. The company has a fifty day moving average of $851.90 and a 200-day moving average of $870.85. The stock has a market capitalization of $755.04 billion, a PE ratio of 85.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, analysts expect that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

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.