Keudell Morrison Wealth Management Increases Stake in Eli Lilly and Company (NYSE:LLY)

Keudell Morrison Wealth Management increased its holdings in Eli Lilly and Company (NYSE:LLY) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,006 shares of the company’s stock after acquiring an additional 186 shares during the quarter. Eli Lilly and Company makes up about 1.2% of Keudell Morrison Wealth Management’s investment portfolio, making the stock its 15th largest position. Keudell Morrison Wealth Management’s holdings in Eli Lilly and Company were worth $4,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC raised its holdings in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares during the last quarter. Verum Partners LLC increased its holdings in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after buying an additional 11 shares in the last quarter. Summit Financial Strategies Inc. lifted its position in Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after buying an additional 11 shares in the last quarter. Finally, Prio Wealth Limited Partnership boosted its stake in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after buying an additional 11 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 1.1 %

Shares of NYSE:LLY traded up $8.45 during trading hours on Thursday, reaching $784.83. The stock had a trading volume of 763,940 shares, compared to its average volume of 3,076,606. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. 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 stock has a market capitalization of $745.05 billion, a price-to-earnings ratio of 83.94, a P/E/G ratio of 3.05 and a beta of 0.43. The firm’s 50 day moving average is $901.75 and its 200-day moving average is $867.32.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on 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. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective for the company. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

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.