Summit Financial Wealth Advisors LLC Boosts Position in Eli Lilly and Company (NYSE:LLY)

Summit Financial Wealth Advisors LLC grew its position in Eli Lilly and Company (NYSE:LLY) by 10.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 848 shares of the company’s stock after purchasing an additional 79 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Eli Lilly and Company during the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $30,000. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC grew its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.9 %

NYSE LLY opened at $755.00 on Tuesday. 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 has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The business has a 50 day moving average price of $861.63 and a two-hundred day moving average price of $870.20. The stock has a market cap of $716.73 billion, a PE ratio of 81.62, a P/E/G ratio of 2.83 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced 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 quarter last year, the company posted $0.10 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

Analyst Ratings Changes

LLY has been the topic of several recent analyst reports. Wolfe Research began coverage on shares of Eli Lilly and Company in a report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price objective on the stock. Berenberg Bank increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup increased their target price on 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. Finally, JPMorgan Chase & Co. lifted their target price on 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. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

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.