Elite Wealth Management Inc. Increases Position in Eli Lilly and Company (NYSE:LLY)

Elite Wealth Management Inc. lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 463 shares of the company’s stock after purchasing an additional 20 shares during the period. Elite Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Finally, Cedar Mountain Advisors LLC increased its stake in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.1 %

Shares of NYSE:LLY opened at $788.35 on Thursday. The company has a market cap of $748.40 billion, a PE ratio of 85.23, a P/E/G ratio of 2.86 and a beta of 0.43. The company’s 50 day moving average is $856.96 and its two-hundred day moving average is $869.83. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. Equities analysts predict that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm 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 dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on 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. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Barclays dropped their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four 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.com, the company has an average 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.