Concord Asset Management LLC VA Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Concord Asset Management LLC VA boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,540 shares of the company’s stock after acquiring an additional 485 shares during the quarter. Concord Asset Management LLC VA’s holdings in Eli Lilly and Company were worth $4,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LLY. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $27,000. Tower Bridge Advisors raised its stake in shares of Eli Lilly and Company by 51.5% in the third quarter. Tower Bridge Advisors now owns 9,149 shares of the company’s stock valued at $8,105,000 after acquiring an additional 3,110 shares in the last quarter. Mechanics Financial Corp boosted its holdings in Eli Lilly and Company by 49.7% in the third quarter. Mechanics Financial Corp now owns 2,554 shares of the company’s stock valued at $2,263,000 after purchasing an additional 848 shares during the period. Adero Partners LLC grew its stake in Eli Lilly and Company by 4.1% during the 3rd quarter. Adero Partners LLC now owns 1,080 shares of the company’s stock worth $957,000 after purchasing an additional 43 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC increased its holdings in Eli Lilly and Company by 45.2% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 777 shares of the company’s stock worth $688,000 after purchasing an additional 242 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $746.20 on Friday. The company’s 50 day simple moving average is $882.65 and its 200-day simple moving average is $870.38. The firm has a market cap of $708.38 billion, a PE ratio of 80.67, a price-to-earnings-growth ratio of 2.82 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 current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Eli Lilly and Company will post 13.21 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. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s payout ratio is 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.