Pinpoint Asset Management Ltd Acquires 841 Shares of Eli Lilly and Company (NYSE:LLY)

Pinpoint Asset Management Ltd boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 26.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,050 shares of the company’s stock after acquiring an additional 841 shares during the period. Eli Lilly and Company accounts for 0.8% of Pinpoint Asset Management Ltd’s portfolio, making the stock its 22nd largest position. Pinpoint Asset Management Ltd’s holdings in Eli Lilly and Company were worth $3,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Chesley Taft & Associates LLC boosted its holdings in Eli Lilly and Company by 5.4% during the second 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. OMNI 360 Wealth Inc. bought a new position in Eli Lilly and Company during the 2nd quarter worth approximately $239,000. Long Run Wealth Advisors LLC bought a new position in Eli Lilly and Company during the 2nd quarter worth approximately $209,000. Essex Financial Services Inc. grew its holdings in Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after purchasing an additional 1,556 shares during the period. Finally, Sitrin Capital Management LLC bought a new stake in Eli Lilly and Company in the second quarter valued at approximately $5,986,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a report on Monday, November 4th. BMO Capital Markets increased their price target on 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. Citigroup lifted their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America lowered their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Wolfe Research started coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

Eli Lilly and Company Stock Up 1.7 %

LLY stock opened at $813.33 on Wednesday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business’s 50 day simple moving average is $847.28 and its 200 day simple moving average is $871.36. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $772.11 billion, a PE ratio of 87.93, a PEG ratio of 3.03 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced 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). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, research analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.64%. 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 other Eli Lilly and Company 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 transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.