Mizuho Securities Co. Ltd. Sells 510 Shares of Eli Lilly and Company (NYSE:LLY)

Mizuho Securities Co. Ltd. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 35.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 920 shares of the company’s stock after selling 510 shares during the quarter. Eli Lilly and Company comprises 2.0% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 14th largest holding. Mizuho Securities Co. Ltd.’s holdings in Eli Lilly and Company were worth $815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schrum Private Wealth Management LLC bought a new stake in Eli Lilly and Company in the third quarter worth approximately $312,000. Kovack Advisors Inc. increased its holdings in Eli Lilly and Company by 9.7% in the third quarter. Kovack Advisors Inc. now owns 4,956 shares of the company’s stock worth $4,391,000 after purchasing an additional 440 shares in the last quarter. Pinnacle Financial Partners Inc increased its holdings in Eli Lilly and Company by 0.8% in the third quarter. Pinnacle Financial Partners Inc now owns 35,961 shares of the company’s stock worth $31,859,000 after purchasing an additional 275 shares in the last quarter. Hartline Investment Corp increased its holdings in Eli Lilly and Company by 33.9% in the third quarter. Hartline Investment Corp now owns 26,958 shares of the company’s stock worth $23,883,000 after purchasing an additional 6,818 shares in the last quarter. Finally, Mengis Capital Management Inc. increased its holdings in shares of Eli Lilly and Company by 2.2% during the third quarter. Mengis Capital Management Inc. now owns 7,559 shares of the company’s stock valued at $6,697,000 after acquiring an additional 160 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $4.65 during trading on Wednesday, reaching $823.51. 1,025,480 shares of the stock traded hands, compared to its average volume of 3,105,908. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week 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 company has a 50-day moving average of $891.02 and a 200-day moving average of $870.71. The stock has a market capitalization of $781.77 billion, a P/E ratio of 88.91, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS 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 firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 given a dividend of $1.30 per share. 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 0.63%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. Truist Financial boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein started coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,008.41.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

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.