W.H. Cornerstone Investments Inc. Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

W.H. Cornerstone Investments Inc. lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 19.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,059 shares of the company’s stock after selling 254 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Eli Lilly and Company were worth $938,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LLY. M&G Plc purchased a new stake in shares of Eli Lilly and Company during the first quarter valued at $8,896,000. Virtu Financial LLC acquired a new position in shares of Eli Lilly and Company in the first quarter valued at about $2,138,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 404.8% during the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after purchasing an additional 50,197 shares during the period. Finally, Chesley Taft & Associates LLC boosted its position 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 valued at $20,419,000 after buying an additional 1,163 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. 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 for the company. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,008.41.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $806.14 on Tuesday. 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 50-day moving average price of $908.15 and a 200 day moving average price of $867.39. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The stock has a market cap of $765.28 billion, a P/E ratio of 87.15, a PEG ratio of 3.09 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 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts anticipate that Eli Lilly and Company will post 13.23 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.65%. Eli Lilly and Company’s payout ratio is currently 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.