Jennison Associates LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Jennison Associates LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,947,395 shares of the company’s stock after selling 285,593 shares during the quarter. Eli Lilly and Company accounts for 3.8% of Jennison Associates LLC’s holdings, making the stock its 7th biggest holding. Jennison Associates LLC owned approximately 0.73% of Eli Lilly and Company worth $6,154,975,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Eli Lilly and Company in the 1st quarter valued at $2,138,000. Chesley Taft & Associates LLC grew its position in Eli Lilly and Company by 5.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after acquiring an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in Eli Lilly and Company in the 2nd quarter valued at $239,000. Long Run Wealth Advisors LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter worth $209,000. Finally, Essex Financial Services Inc. increased its stake in shares of Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Berenberg Bank upped 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. Bank of America lowered their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Up 0.3 %

Eli Lilly and Company stock opened at $729.62 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The stock has a market capitalization of $692.64 billion, a price-to-earnings ratio of 78.88, a PEG ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business has a fifty day moving average price of $875.60 and a 200-day moving average price of $870.81.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.71%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

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.