Financial Enhancement Group LLC Sells 447 Shares of Eli Lilly and Company (NYSE:LLY)

Financial Enhancement Group LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the company’s stock after selling 447 shares during the quarter. Financial Enhancement Group LLC’s holdings in Eli Lilly and Company were worth $1,650,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares during the last quarter. Quent Capital LLC grew its stake in Eli Lilly and Company by 5.3% in the first quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock worth $3,846,000 after purchasing an additional 249 shares during the period. W.H. Cornerstone Investments Inc. boosted its stake in Eli Lilly and Company by 44.6% during the first quarter. W.H. Cornerstone Investments Inc. now owns 1,213 shares of the company’s stock worth $944,000 after acquiring an additional 374 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Eli Lilly and Company by 33.9% in the 1st quarter. Manchester Capital Management LLC now owns 4,049 shares of the company’s stock worth $3,150,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Eli Lilly and Company by 5.1% during the first quarter. Advisory Services Network LLC now owns 45,528 shares of the company’s stock valued at $35,418,000 after buying an additional 2,225 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY stock opened at $776.47 on Thursday. The business has a 50 day simple moving average of $901.75 and a 200-day simple moving average of $867.32. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $737.11 billion, a P/E ratio of 83.94, a PEG ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analysts Set New Price Targets

Several research firms recently commented on LLY. Bank of America reduced their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,008.41.

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.