Gulf International Bank UK Ltd Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Gulf International Bank UK Ltd decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,877 shares of the company’s stock after selling 2,498 shares during the period. Eli Lilly and Company makes up approximately 1.5% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 10th biggest position. Gulf International Bank UK Ltd’s holdings in Eli Lilly and Company were worth $56,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $36,000. Morton Brown Family Wealth LLC lifted its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC boosted its stake in Eli Lilly and Company by 53.3% in the third 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. Finally, Unique Wealth Strategies LLC bought a new position in Eli Lilly and Company during the second quarter valued at approximately $45,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $806.14 on Tuesday. 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 fifty-two week low of $561.65 and a fifty-two week high of $972.53. The stock has a market cap of $765.28 billion, a price-to-earnings ratio of 87.15, a PEG ratio of 3.09 and a beta of 0.43. The stock’s 50 day simple moving average is $908.15 and its two-hundred day simple moving average is $867.39.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 71.08% and a net margin of 20.48%. The business 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 company earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts expect that Eli Lilly and Company will post 13.23 earnings per share 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. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. 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. Berenberg Bank increased their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays decreased their price target on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday. Three 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

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.