GGM Financials LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

GGM Financials LLC lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 745 shares of the company’s stock after buying an additional 26 shares during the quarter. GGM Financials LLC’s holdings in Eli Lilly and Company were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LLY. M&G Plc acquired a new position in Eli Lilly and Company during the first quarter worth approximately $8,896,000. Virtu Financial LLC acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth $2,138,000. China Universal Asset Management Co. Ltd. increased its stake in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after acquiring an additional 1,620 shares during the last quarter. Chesley Taft & Associates LLC raised its holdings in 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 valued at $20,419,000 after buying an additional 1,163 shares during the period. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $239,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 3.7 %

Shares of NYSE:LLY opened at $776.47 on Thursday. The company’s fifty day moving average is $901.75 and its two-hundred day moving average is $867.32. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. 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 $737.11 billion, a price-to-earnings ratio of 83.94, a price-to-earnings-growth ratio of 3.05 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the company earned $0.10 EPS. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.67%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Analyst Upgrades and Downgrades

Several research analysts have commented on LLY shares. BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Bank of America reduced their price target on 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Wells Fargo & Company lifted their price objective 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. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target 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.