Chesapeake Wealth Management Cuts Position in Eli Lilly and Company (NYSE:LLY)

Chesapeake Wealth Management cut its holdings in Eli Lilly and Company (NYSE:LLY) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,430 shares of the company’s stock after selling 107 shares during the period. Eli Lilly and Company comprises approximately 1.0% of Chesapeake Wealth Management’s portfolio, making the stock its 27th biggest holding. Chesapeake Wealth Management’s holdings in Eli Lilly and Company were worth $3,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vaughan David Investments LLC IL raised its stake in shares of Eli Lilly and Company by 6.7% during the 1st quarter. Vaughan David Investments LLC IL now owns 3,821 shares of the company’s stock worth $2,973,000 after purchasing an additional 239 shares during the period. Ossiam increased its holdings in Eli Lilly and Company by 28.4% during the first quarter. Ossiam now owns 90,675 shares of the company’s stock worth $70,542,000 after buying an additional 20,046 shares during the last quarter. Elgethun Capital Management raised its position in Eli Lilly and Company by 97.5% in the first quarter. Elgethun Capital Management now owns 23,541 shares of the company’s stock worth $17,850,000 after acquiring an additional 11,620 shares during the period. Crewe Advisors LLC purchased a new position in Eli Lilly and Company in the first quarter valued at about $1,191,000. Finally, Payden & Rygel Investment Group bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $20,631,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $727.57 on Tuesday. The stock’s 50-day simple moving average is $879.04 and its two-hundred day simple moving average is $870.84. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The firm has a market capitalization of $690.70 billion, a P/E ratio of 78.66, a P/E/G ratio of 2.82 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 analysts’ consensus estimates 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Berenberg Bank upped their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Citigroup upped their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Truist Financial lifted 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 note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

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.