Cohen Capital Management Inc. Invests $276,000 in Eli Lilly and Company (NYSE:LLY)

Cohen Capital Management Inc. bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 311 shares of the company’s stock, valued at approximately $276,000.

Several other large investors have also recently modified their holdings of LLY. China Universal Asset Management Co. Ltd. lifted its position in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares in the last quarter. Lincoln National Corp boosted its stake in Eli Lilly and Company by 11.7% in the 1st quarter. Lincoln National Corp now owns 17,080 shares of the company’s stock worth $13,288,000 after purchasing an additional 1,789 shares during the period. Quent Capital LLC grew its holdings in Eli Lilly and Company by 5.3% during the 1st quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock valued at $3,846,000 after buying an additional 249 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in Eli Lilly and Company by 123.2% during the 1st quarter. Pittenger & Anderson Inc. now owns 944 shares of the company’s stock worth $734,000 after acquiring an additional 521 shares during the period. Finally, Consolidated Planning Corp lifted its stake in Eli Lilly and Company by 1.7% in the 1st quarter. Consolidated Planning Corp now owns 1,166 shares of the company’s stock worth $907,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Bank of America decreased their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target for the company. Finally, Truist Financial lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.00.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $804.11 on Monday. The company has a market capitalization of $763.36 billion, a P/E ratio of 88.53, a PEG ratio of 3.13 and a beta of 0.43. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week 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 stock has a 50 day moving average price of $911.04 and a two-hundred day moving average price of $866.97.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The firm had revenue of $11.44 billion for 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%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Analysts expect that Eli Lilly and Company will post 13.23 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued 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 0.65%. Eli Lilly and Company’s dividend payout ratio 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.