Eli Lilly and Company (NYSE:LLY) is WESPAC Advisors LLC’s 8th Largest Position

WESPAC Advisors LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,459 shares of the company’s stock after buying an additional 84 shares during the quarter. Eli Lilly and Company accounts for approximately 1.6% of WESPAC Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. WESPAC Advisors LLC’s holdings in Eli Lilly and Company were worth $2,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $30,000. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Truist Financial increased their price target on 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. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $748.01 on Friday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The business has a 50 day moving average of $865.01 and a 200 day moving average of $869.65. The company 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 (NYSE:LLY) last posted its quarterly 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 return on equity of 71.08% and a net margin of 20.48%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend 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.