Pekin Hardy Strauss Inc. Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Pekin Hardy Strauss Inc. raised its stake in Eli Lilly and Company (NYSE:LLY) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,536 shares of the company’s stock after purchasing an additional 180 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Eli Lilly and Company were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LLY. Virtu Financial LLC purchased a new stake in Eli Lilly and Company during the first quarter valued at approximately $2,138,000. Chesley Taft & Associates LLC lifted its holdings in shares of Eli Lilly and Company by 5.4% during the 2nd quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after purchasing an additional 1,163 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $239,000. Long Run Wealth Advisors LLC purchased a new position in Eli Lilly and Company during the 2nd quarter worth $209,000. Finally, Essex Financial Services Inc. increased its position in Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research analyst reports. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. 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 research note on Thursday, October 10th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America lowered their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 0.3 %

LLY opened at $748.01 on Friday. The company has a fifty day moving average of $865.01 and a two-hundred day moving average of $869.65. The stock has a market capitalization of $710.10 billion, a price-to-earnings ratio of 80.87, a PEG ratio of 2.84 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 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, research analysts expect that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given 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 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.