Eli Lilly and Company (NYSE:LLY) Shares Sold by SouthState Corp

SouthState Corp lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,133 shares of the company’s stock after selling 750 shares during the quarter. SouthState Corp’s holdings in Eli Lilly and Company were worth $9,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $2,138,000. Chesley Taft & Associates LLC lifted its stake in Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after acquiring an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in Eli Lilly and Company during the 2nd quarter worth approximately $239,000. Long Run Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $209,000. Finally, Essex Financial Services Inc. increased its position in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after purchasing an additional 1,556 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $727.57 on Tuesday. The stock’s 50-day moving average price is $879.04 and its 200 day moving average price is $870.84. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $690.70 billion, a PE ratio of 78.66, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its 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 net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.21 EPS 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. Stockholders 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 0.71%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, Barclays dropped their price target 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 note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

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.