Cornerstone Advisors LLC Buys 1,100 Shares of Eli Lilly and Company (NYSE:LLY)

Cornerstone Advisors LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,400 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Eli Lilly and Company accounts for about 1.5% of Cornerstone Advisors LLC’s portfolio, making the stock its 10th largest holding. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $38,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Twelve Points Wealth Management LLC increased its holdings in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC grew its position in shares of Eli Lilly and Company by 1.5% during the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares during the period. Beaird Harris Wealth Management LLC grew its position in shares of Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after acquiring an additional 11 shares during the period. Summit Financial Strategies Inc. increased its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares in the last quarter. Finally, Prio Wealth Limited Partnership raised its holdings in Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup upped their price objective 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. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $753.41 on Thursday. 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 cap of $715.23 billion, a PE ratio of 81.45, a P/E/G ratio of 2.76 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 stock has a 50 day moving average price of $872.25 and a 200 day moving average price of $869.98.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

About Eli Lilly and Company

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.