Eli Lilly and Company (NYSE:LLY) Stake Cut by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 22.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,272 shares of the company’s stock after selling 4,609 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Eli Lilly and Company were worth $14,416,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company in the third quarter worth $30,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC increased 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 buying an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC increased its position in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 2.0 %

Shares of NYSE:LLY opened at $829.82 on Thursday. The stock’s 50-day moving average price is $845.38 and its 200-day moving average price is $871.07. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The stock has a market capitalization of $787.76 billion, a P/E ratio of 89.71, a price-to-earnings-growth ratio of 3.03 and a beta of 0.41. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced 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 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insiders Place Their Bets

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 stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price target 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. Finally, Cantor Fitzgerald reissued 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 seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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.