Itau Unibanco Holding S.A. Lowers Position in Eli Lilly and Company (NYSE:LLY)

Itau Unibanco Holding S.A. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 96.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 92 shares of the company’s stock after selling 2,714 shares during the period. Itau Unibanco Holding S.A.’s holdings in Eli Lilly and Company were worth $82,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LLY. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $36,000. Morton Brown Family Wealth LLC raised its stake in shares of 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 purchasing an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research analyst reports. Barclays lowered their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial increased their price target on shares of 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

LLY stock opened at $813.33 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company’s fifty day moving average price is $847.28 and its 200-day moving average price is $871.36. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a market capitalization of $772.11 billion, a PE ratio of 87.93, a price-to-earnings-growth ratio of 3.03 and a beta of 0.41.

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 the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 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.