Gimbal Financial Sells 73 Shares of Eli Lilly and Company (NYSE:LLY)

Gimbal Financial decreased its position in Eli Lilly and Company (NYSE:LLY) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,128 shares of the company’s stock after selling 73 shares during the quarter. Eli Lilly and Company makes up approximately 10.5% of Gimbal Financial’s portfolio, making the stock its 4th largest position. Gimbal Financial’s holdings in Eli Lilly and Company were worth $16,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Azzad Asset Management Inc. ADV boosted its holdings in shares of Eli Lilly and Company by 2.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 1,814 shares of the company’s stock worth $1,411,000 after acquiring an additional 45 shares during the period. TCP Asset Management LLC bought a new position in Eli Lilly and Company in the 1st quarter worth about $201,000. Valley National Advisers Inc. boosted its stake in Eli Lilly and Company by 2.9% in the 1st quarter. Valley National Advisers Inc. now owns 5,901 shares of the company’s stock worth $4,591,000 after purchasing an additional 165 shares during the period. Lake Street Private Wealth LLC grew its holdings in Eli Lilly and Company by 5.7% during the 1st quarter. Lake Street Private Wealth LLC now owns 8,175 shares of the company’s stock valued at $6,360,000 after buying an additional 440 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 112.4% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 4,161 shares of the company’s stock valued at $3,237,000 after buying an additional 2,202 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of 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. Sanford C. Bernstein initiated 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 target for the company. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Stock Down 6.3 %

Shares of NYSE:LLY opened at $846.90 on Thursday. The stock has a market capitalization of $804.90 billion, a P/E ratio of 124.73, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. The stock’s 50-day moving average price is $916.20 and its 200-day moving average price is $865.10. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.35). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities analysts anticipate that Eli Lilly and Company will post 14.05 earnings per share for the current 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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 76.58%.

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.