Verity Asset Management Inc. Sells 148 Shares of Eli Lilly and Company (NYSE:LLY)

Verity Asset Management Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,378 shares of the company’s stock after selling 148 shares during the quarter. Verity Asset Management Inc.’s holdings in Eli Lilly and Company were worth $1,221,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vista Capital Partners Inc. lifted its position in Eli Lilly and Company by 60.8% in the third quarter. Vista Capital Partners Inc. now owns 1,719 shares of the company’s stock worth $1,523,000 after buying an additional 650 shares during the last quarter. TFB Advisors LLC lifted its position in Eli Lilly and Company by 2.4% in the third quarter. TFB Advisors LLC now owns 1,977 shares of the company’s stock worth $1,752,000 after buying an additional 46 shares during the last quarter. Channel Wealth LLC lifted its position in Eli Lilly and Company by 38.6% in the third quarter. Channel Wealth LLC now owns 7,634 shares of the company’s stock worth $6,763,000 after buying an additional 2,125 shares during the last quarter. Dudley Capital Management LLC lifted its position in Eli Lilly and Company by 29.4% in the third quarter. Dudley Capital Management LLC now owns 1,544 shares of the company’s stock worth $1,368,000 after buying an additional 351 shares during the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in Eli Lilly and Company in the third quarter worth $238,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

LLY opened at $797.58 on Friday. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The firm has a market capitalization of $757.16 billion, a PE ratio of 86.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43. 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 moving average is $901.75 and its two-hundred day moving average is $867.32.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% on a year-over-year basis. Research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share 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 issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of analyst reports. Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Berenberg Bank lifted 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 research report on Wednesday, August 14th. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price for the company. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,008.41.

About Eli Lilly and Company

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.