Eli Lilly and Company (NYSE:LLY) Shares Acquired by Montecito Bank & Trust

Montecito Bank & Trust raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,731 shares of the company’s stock after buying an additional 766 shares during the period. Eli Lilly and Company makes up 1.6% of Montecito Bank & Trust’s portfolio, making the stock its 12th biggest position. Montecito Bank & Trust’s holdings in Eli Lilly and Company were worth $9,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G Plc acquired a new stake in Eli Lilly and Company in the first quarter worth approximately $8,896,000. Virtu Financial LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. boosted its stake in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after buying an additional 1,620 shares in the last quarter. Chesley Taft & Associates LLC grew its holdings in Eli Lilly and Company by 5.4% during 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 period. Finally, OMNI 360 Wealth Inc. bought a new stake in Eli Lilly and Company in the second quarter worth about $239,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $776.47 on Thursday. The firm has a market cap of $737.11 billion, a PE ratio of 83.94, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43. The company’s 50-day moving average price is $901.75 and its two-hundred day moving average price is $867.32. 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.

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 analysts’ consensus estimates 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 the consensus estimate of $12.09 billion. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 56.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LLY. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Barclays decreased their target price on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Bank of America dropped their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

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.