Eads & Heald Wealth Management Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Eads & Heald Wealth Management lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,198 shares of the company’s stock after selling 98 shares during the period. Eads & Heald Wealth Management’s holdings in Eli Lilly and Company were worth $1,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Cedar Mountain Advisors LLC lifted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company in the second quarter worth approximately $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LLY. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday. Guggenheim increased their price objective 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, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.00.

Eli Lilly and Company Stock Down 1.3 %

Shares of Eli Lilly and Company stock opened at $818.93 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a market capitalization of $778.34 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. The company has a 50 day moving average of $911.04 and a 200 day moving average of $865.33.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. As a group, research analysts forecast that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.