MGB Wealth Management LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

MGB Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,142 shares of the company’s stock after acquiring an additional 115 shares during the period. MGB Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LLY. Earnest Partners LLC grew its position in Eli Lilly and Company by 13.8% in the 1st quarter. Earnest Partners LLC now owns 453 shares of the company’s stock valued at $352,000 after buying an additional 55 shares during the last quarter. Caxton Associates LP purchased a new position in Eli Lilly and Company in the 1st quarter valued at $3,659,000. Zurich Insurance Group Ltd FI grew its position in Eli Lilly and Company by 2.5% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 234,898 shares of the company’s stock valued at $182,741,000 after buying an additional 5,719 shares during the last quarter. Captrust Financial Advisors grew its position in Eli Lilly and Company by 95.8% in the 1st quarter. Captrust Financial Advisors now owns 598,834 shares of the company’s stock valued at $465,869,000 after buying an additional 293,050 shares during the last quarter. Finally, Kinloch Capital LLC grew its position in Eli Lilly and Company by 59.5% in the 1st quarter. Kinloch Capital LLC now owns 909 shares of the company’s stock valued at $707,000 after buying an additional 339 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.3 %

NYSE:LLY opened at $748.01 on Friday. The stock has a fifty day simple moving average of $865.01 and a 200-day simple moving average of $869.65. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a market capitalization of $710.10 billion, a PE ratio of 80.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.43. 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 (NYSE:LLY) last announced its 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). 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 during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LLY shares. JPMorgan Chase & Co. lifted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and 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.