Hanlon Investment Management Inc. Sells 68 Shares of Eli Lilly and Company (NYSE:LLY)

Hanlon Investment Management Inc. trimmed its position in Eli Lilly and Company (NYSE:LLY) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,601 shares of the company’s stock after selling 68 shares during the period. Eli Lilly and Company makes up approximately 0.9% of Hanlon Investment Management Inc.’s investment portfolio, making the stock its 20th largest holding. Hanlon Investment Management Inc.’s holdings in Eli Lilly and Company were worth $3,190,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LLY. China Universal Asset Management Co. Ltd. lifted its position in shares of Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares in the last quarter. Quent Capital LLC lifted its position in Eli Lilly and Company by 5.3% during the 1st quarter. Quent Capital LLC now owns 4,943 shares of the company’s stock worth $3,846,000 after buying an additional 249 shares in the last quarter. Mutual Advisors LLC lifted its position in Eli Lilly and Company by 404.8% during the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after buying an additional 50,197 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Eli Lilly and Company by 52.2% during the 1st quarter. Whittier Trust Co. now owns 75,487 shares of the company’s stock worth $58,725,000 after buying an additional 25,877 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Eli Lilly and Company by 155.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 19,745 shares of the company’s stock valued at $15,361,000 after acquiring an additional 12,004 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $804.55 on Tuesday. The company has a market capitalization of $763.78 billion, a price-to-earnings ratio of 87.15, a PEG ratio of 3.09 and a beta of 0.43. 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 has a 12 month low of $561.65 and a 12 month high of $972.53. The stock’s 50 day moving average is $908.15 and its 200-day moving average is $867.39.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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 firm 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 for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Equities research analysts expect that Eli Lilly and Company will post 13.23 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. 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 note on Friday, September 13th. Evercore ISI raised shares of 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 stock an “outperform” rating in a research report on Friday, August 9th. Finally, Citigroup increased their price target on shares of 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. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $1,008.41.

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.