First County Bank CT Has $2.55 Million Stake in Eli Lilly and Company (NYSE:LLY)

First County Bank CT lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,873 shares of the company’s stock after selling 238 shares during the period. Eli Lilly and Company makes up 1.3% of First County Bank CT’s investment portfolio, making the stock its 16th biggest holding. First County Bank CT’s holdings in Eli Lilly and Company were worth $2,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Valence8 US LP bought a new position in Eli Lilly and Company in the third quarter worth $561,000. Darden Wealth Group Inc boosted its position in shares of Eli Lilly and Company by 3.8% during the 3rd quarter. Darden Wealth Group Inc now owns 1,515 shares of the company’s stock valued at $1,342,000 after acquiring an additional 55 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Eli Lilly and Company by 33.8% in the third quarter. Eagle Asset Management Inc. now owns 29,394 shares of the company’s stock valued at $24,443,000 after acquiring an additional 7,425 shares during the period. HealthInvest Partners AB raised its position in Eli Lilly and Company by 12.6% in the third quarter. HealthInvest Partners AB now owns 30,564 shares of the company’s stock worth $27,078,000 after purchasing an additional 3,420 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in Eli Lilly and Company by 132.0% during the third quarter. Activest Wealth Management now owns 116 shares of the company’s stock worth $103,000 after purchasing an additional 66 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.6 %

NYSE:LLY opened at $748.91 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The stock’s fifty day simple moving average is $868.53 and its 200-day simple moving average is $869.14. The firm has a market capitalization of $710.96 billion, a P/E ratio of 80.96, a P/E/G ratio of 2.76 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued 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). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price 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.