Balboa Wealth Partners Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Balboa Wealth Partners cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,742 shares of the company’s stock after selling 243 shares during the period. Balboa Wealth Partners’ holdings in Eli Lilly and Company were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after purchasing an additional 12,448,888 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Capital International Investors raised its stake in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. Finally, GQG Partners LLC raised its position in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Bank of America dropped their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $785.95 on Friday. The business has a fifty day simple moving average of $888.32 and a 200 day simple moving average of $870.29. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The firm has a market capitalization of $746.12 billion, a price-to-earnings ratio of 84.97, a PEG ratio of 3.07 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 (NYSE:LLY) last announced 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). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the company earned $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company 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.