Palisade Asset Management LLC Sells 161 Shares of Eli Lilly and Company (NYSE:LLY)

Palisade Asset Management LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,070 shares of the company’s stock after selling 161 shares during the quarter. Eli Lilly and Company accounts for about 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 18th biggest holding. Palisade Asset Management LLC’s holdings in Eli Lilly and Company were worth $16,895,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company during the third quarter valued at $30,000. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth $36,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LLY shares. Citigroup raised their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Trading Down 0.3 %

Shares of Eli Lilly and Company stock opened at $748.01 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a 50 day moving average price of $865.01 and a two-hundred day moving average price of $869.01. The stock 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.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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). The business had revenue of $11.44 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.2 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.