Red Cedar Investment Management LLC Sells 107 Shares of Eli Lilly and Company (NYSE:LLY)

Red Cedar Investment Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,469 shares of the company’s stock after selling 107 shares during the quarter. Eli Lilly and Company comprises approximately 1.2% of Red Cedar Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding. Red Cedar Investment Management LLC’s holdings in Eli Lilly and Company were worth $9,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LLY. Quintet Private Bank Europe S.A. increased its position in Eli Lilly and Company by 6.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 4,369 shares of the company’s stock worth $3,871,000 after buying an additional 281 shares during the period. PDS Planning Inc boosted its holdings in shares of Eli Lilly and Company by 1.5% during the 3rd quarter. PDS Planning Inc now owns 5,852 shares of the company’s stock valued at $5,184,000 after acquiring an additional 85 shares in the last quarter. Leeward Financial Partners LLC grew its stake in shares of Eli Lilly and Company by 3.8% in the third quarter. Leeward Financial Partners LLC now owns 4,227 shares of the company’s stock worth $3,745,000 after purchasing an additional 155 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Eli Lilly and Company by 1.7% during the 3rd quarter. QRG Capital Management Inc. now owns 121,162 shares of the company’s stock worth $107,342,000 after purchasing an additional 1,980 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Eli Lilly and Company by 0.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 360,282 shares of the company’s stock valued at $319,188,000 after purchasing an additional 1,412 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LLY shares. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America decreased 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 report on Thursday, October 31st. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Citigroup upped their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Eli Lilly and Company Price Performance

Shares of LLY opened at $806.14 on Tuesday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The company’s fifty day moving average price is $908.15 and its 200-day moving average price is $867.39. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $765.28 billion, a PE ratio of 87.15, a price-to-earnings-growth ratio of 3.09 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly 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 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 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. On average, equities research analysts predict that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed 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 of this dividend 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 (DPR) is currently 56.22%.

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.