SageView Advisory Group LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

SageView Advisory Group LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,002 shares of the company’s stock after selling 2,283 shares during the quarter. Eli Lilly and Company comprises 0.5% of SageView Advisory Group LLC’s investment portfolio, making the stock its 27th largest holding. SageView Advisory Group LLC’s holdings in Eli Lilly and Company were worth $9,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Chesley Taft & Associates LLC grew its position in shares of Eli Lilly and Company by 5.4% during the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new position in Eli Lilly and Company during the second quarter worth about $239,000. Long Run Wealth Advisors LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth about $209,000. Essex Financial Services Inc. raised its holdings in shares of Eli Lilly and Company by 5.8% in the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after acquiring an additional 1,556 shares in the last quarter. Finally, Sitrin Capital Management LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at about $5,986,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Berenberg Bank raised their price objective 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. Wolfe Research began coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,007.94.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $829.82 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business has a 50 day simple moving average of $845.38 and a two-hundred day simple moving average of $871.07. The stock has a market capitalization of $787.76 billion, a PE ratio of 89.71, a P/E/G ratio of 3.08 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during 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%. Eli Lilly and Company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. 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 currently 56.22%.

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.