Fmr LLC Sells 451,601 Shares of Eli Lilly and Company (NYSE:LLY)

Fmr LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 33,036,420 shares of the company’s stock after selling 451,601 shares during the quarter. Eli Lilly and Company accounts for approximately 1.8% of Fmr LLC’s investment portfolio, making the stock its 7th biggest holding. Fmr LLC’s holdings in Eli Lilly and Company were worth $29,268,286,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 10.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 848 shares of the company’s stock worth $751,000 after purchasing an additional 79 shares in the last quarter. Elios Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $433,000. Qsemble Capital Management LP bought a new position in shares of Eli Lilly and Company in the third quarter valued at $2,899,000. Acorn Wealth Advisors LLC grew its holdings in shares of Eli Lilly and Company by 20.5% during the third quarter. Acorn Wealth Advisors LLC now owns 689 shares of the company’s stock valued at $610,000 after buying an additional 117 shares during the last quarter. Finally, Wiser Advisor Group LLC grew its holdings in shares of Eli Lilly and Company by 8.6% during the third quarter. Wiser Advisor Group LLC now owns 1,609 shares of the company’s stock valued at $1,426,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s 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 approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $755.00 on Tuesday. The business’s 50-day moving average price is $861.63 and its 200-day moving average price is $870.20. The firm has a market capitalization of $716.73 billion, a PE ratio of 81.62, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $561.65 and a 12 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.

Eli Lilly and Company (NYSE:LLY) last posted 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 business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the business posted $0.10 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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