Baker Avenue Asset Management LP Purchases 3,310 Shares of Eli Lilly and Company (NYSE:LLY)

Baker Avenue Asset Management LP raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 26.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 15,809 shares of the company’s stock after purchasing an additional 3,310 shares during the period. Baker Avenue Asset Management LP’s holdings in Eli Lilly and Company were worth $14,006,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LLY. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $36,000. Morton Brown Family Wealth LLC boosted its stake in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC boosted 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 valued at $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $34.09 during mid-day trading on Friday, hitting $831.54. The company had a trading volume of 7,212,870 shares, compared to its average volume of 3,743,862. 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 has a 1 year low of $561.65 and a 1 year high of $972.53. The company has a market capitalization of $789.40 billion, a price-to-earnings ratio of 89.90, a P/E/G ratio of 2.94 and a beta of 0.43. The stock’s 50-day moving average price is $896.31 and its 200-day moving average price is $867.53.

Eli Lilly and Company (NYSE:LLY) last posted 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 net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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 yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LLY. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $1,008.41.

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.