Garrison Asset Management LLC Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Garrison Asset Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,276 shares of the company’s stock after selling 301 shares during the period. Garrison Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,016,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. M&G Plc purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $8,896,000. Virtu Financial LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth $2,138,000. China Universal Asset Management Co. Ltd. increased its stake in Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of Eli Lilly and Company by 404.8% in the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after acquiring an additional 50,197 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings 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 worth $20,419,000 after buying an additional 1,163 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays reduced 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 research report on Thursday. BMO Capital Markets upped their price target on shares of 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Finally, Citigroup increased their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $0.97 during trading on Monday, reaching $817.96. The company’s stock had a trading volume of 690,278 shares, compared to its average volume of 3,044,902. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.87 and a current ratio of 1.27. The firm has a market cap of $776.51 billion, a price-to-earnings ratio of 88.53, a price-to-earnings-growth ratio of 3.13 and a beta of 0.43. The business’s fifty day moving average price is $911.04 and its 200-day moving average price is $866.97.

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 the consensus estimate 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 the consensus estimate of $12.09 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 13.23 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.64%. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

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.