Lifeworks Advisors LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lifeworks Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,179 shares of the company’s stock after selling 301 shares during the quarter. Eli Lilly and Company accounts for approximately 1.3% of Lifeworks Advisors LLC’s holdings, making the stock its 19th largest position. Lifeworks Advisors LLC’s holdings in Eli Lilly and Company were worth $6,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC grew its holdings 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 acquiring an additional 15 shares during the period. Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Eli Lilly and Company in the second quarter valued at about $45,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Down 1.8 %

Shares of NYSE:LLY traded down $14.27 on Thursday, hitting $797.54. 1,062,583 shares of the company’s stock were exchanged, compared to its average volume of 3,104,469. The stock has a market capitalization of $757.12 billion, a price-to-earnings ratio of 87.06, a price-to-earnings-growth ratio of 3.10 and a beta of 0.43. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. 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 business’s 50 day simple moving average is $888.32 and its two-hundred day simple moving average is $870.29.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LLY. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Barclays dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated 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 owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by 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.