Cornerstone Wealth Advisors Inc. Has $295,000 Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Cornerstone Wealth Advisors Inc. trimmed its position in Eli Lilly and Company (NYSE:LLY) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333 shares of the company’s stock after selling 19 shares during the period. Cornerstone Wealth Advisors Inc.’s holdings in Eli Lilly and Company were worth $295,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System raised its holdings in shares of Eli Lilly and Company by 12.6% in the 1st quarter. State of Michigan Retirement System now owns 269,704 shares of the company’s stock worth $209,819,000 after acquiring an additional 30,200 shares during the last quarter. Financial Security Advisor Inc. raised its stake in shares of Eli Lilly and Company by 1.4% in the first quarter. Financial Security Advisor Inc. now owns 4,194 shares of the company’s stock worth $3,263,000 after purchasing an additional 58 shares during the last quarter. Naviter Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 18.3% in the first quarter. Naviter Wealth LLC now owns 4,318 shares of the company’s stock valued at $3,359,000 after purchasing an additional 668 shares in the last quarter. Saxon Interests Inc. bought a new stake in Eli Lilly and Company during the first quarter worth $261,000. Finally, Azzad Asset Management Inc. ADV raised its position in Eli Lilly and Company by 2.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 1,814 shares of the company’s stock valued at $1,411,000 after buying an additional 45 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $904.05 on Wednesday. The firm has a market capitalization of $859.21 billion, a PE ratio of 133.14, a P/E/G ratio of 3.24 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average price of $918.30 and a two-hundred day moving average price of $865.23. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Equities analysts forecast that Eli Lilly and Company will post 14.05 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 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 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley reiterated 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. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Citigroup lifted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,013.41.

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.