Bridgewater Associates LP Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Bridgewater Associates LP cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 23.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,271 shares of the company’s stock after selling 22,466 shares during the period. Bridgewater Associates LP’s holdings in Eli Lilly and Company were worth $64,914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $27,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the 3rd quarter worth approximately $30,000. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 4.5 %

LLY stock opened at $789.25 on Wednesday. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The stock has a market capitalization of $749.25 billion, a PE ratio of 85.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The company has a fifty day moving average of $859.30 and a 200-day moving average of $870.41.

Eli Lilly and Company (NYSE:LLY) last released its 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 firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the business posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, analysts expect that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on LLY shares. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Truist Financial increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.