Clarity Financial LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Clarity Financial LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 4.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,286 shares of the company’s stock after selling 898 shares during the period. Eli Lilly and Company makes up approximately 1.8% of Clarity Financial LLC’s holdings, making the stock its 18th largest holding. Clarity Financial LLC’s holdings in Eli Lilly and Company were worth $15,314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LLY. M&G Plc purchased a new stake in shares of Eli Lilly and Company during the first quarter worth $8,896,000. Virtu Financial LLC bought a new position in Eli Lilly and Company in the 1st quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. grew its position in shares of Eli Lilly and Company by 19.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after purchasing an additional 1,620 shares in the last quarter. Mutual Advisors LLC increased its holdings in shares of Eli Lilly and Company by 404.8% in the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after purchasing an additional 50,197 shares during the period. Finally, Chesley Taft & Associates LLC increased its holdings in shares of Eli Lilly and Company by 5.4% in the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after purchasing an additional 1,163 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 1.6 %

Shares of LLY stock opened at $806.14 on Tuesday. The business has a 50-day moving average of $908.15 and a 200 day moving average of $867.39. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The stock has a market capitalization of $765.28 billion, a PE ratio of 87.15, a P/E/G ratio of 3.09 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its 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 return on equity of 71.08% and a net margin of 20.48%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.23 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. Stockholders of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. Eli Lilly and Company’s dividend payout ratio is 56.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial lifted their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of 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. Guggenheim raised their target price on shares of 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, Barclays cut their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

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.