Kovack Advisors Inc. Acquires 440 Shares of Eli Lilly and Company (NYSE:LLY)

Kovack Advisors Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,956 shares of the company’s stock after buying an additional 440 shares during the quarter. Kovack Advisors Inc.’s holdings in Eli Lilly and Company were worth $4,391,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LLY. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth about $36,000. Morton Brown Family Wealth LLC increased its holdings in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the period. Cedar Mountain Advisors LLC raised its position in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LLY shares. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Citigroup raised 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. Barclays decreased their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,008.41.

Eli Lilly and Company Stock Up 0.2 %

Eli Lilly and Company stock traded up $1.54 during trading hours on Wednesday, hitting $820.40. The stock had a trading volume of 720,481 shares, compared to its average volume of 3,104,522. The stock’s 50-day moving average price is $891.02 and its 200-day moving average price is $870.71. The stock has a market capitalization of $778.82 billion, a P/E ratio of 88.69, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during 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 business’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 13.21 EPS 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. Investors of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.63%. Eli Lilly and Company’s payout ratio is 56.22%.

Insiders Place Their Bets

In other 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 transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

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.