Edgestream Partners L.P. Cuts Position in Eli Lilly and Company (NYSE:LLY)

Edgestream Partners L.P. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 37.7% during the third quarter, HoldingsChannel reports. The firm owned 8,344 shares of the company’s stock after selling 5,043 shares during the period. Edgestream Partners L.P.’s holdings in Eli Lilly and Company were worth $7,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LLY. LRI Investments LLC bought a new stake in Eli Lilly and Company in the 1st quarter worth approximately $81,000. Westwood Holdings Group Inc. raised its stake in shares of Eli Lilly and Company by 5.4% during the first quarter. Westwood Holdings Group Inc. now owns 3,839 shares of the company’s stock worth $2,987,000 after acquiring an additional 196 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eli Lilly and Company by 71.3% in the 2nd quarter. GAMMA Investing LLC now owns 11,658 shares of the company’s stock worth $10,555,000 after acquiring an additional 4,853 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Eli Lilly and Company by 9.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,534 shares of the company’s stock valued at $3,200,000 after purchasing an additional 315 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 52,520 shares of the company’s stock valued at $47,551,000 after purchasing an additional 1,129 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target 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. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Guggenheim upped their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,007.94.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s 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 sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $795.35 on Friday. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The stock’s 50 day simple moving average is $851.90 and its two-hundred day simple moving average is $869.52. 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 stock has a market cap of $755.04 billion, a price-to-earnings ratio of 85.98, a PEG ratio of 2.99 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, analysts expect that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.