Rice Hall James & Associates LLC Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Rice Hall James & Associates LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 8.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,690 shares of the company’s stock after selling 150 shares during the period. Rice Hall James & Associates LLC’s holdings in Eli Lilly and Company were worth $1,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LLY. M&G Plc purchased a new stake in Eli Lilly and Company during the 1st quarter worth $8,896,000. Virtu Financial LLC acquired a new position in Eli Lilly and Company in the 1st quarter worth $2,138,000. China Universal Asset Management Co. Ltd. lifted its holdings in Eli Lilly and Company by 19.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after buying an additional 1,620 shares in the last quarter. Mutual Advisors LLC lifted its holdings in Eli Lilly and Company by 404.8% in the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after buying an additional 50,197 shares in the last quarter. Finally, Centric Wealth Management lifted its holdings in Eli Lilly and Company by 4.3% in the 1st quarter. Centric Wealth Management now owns 14,124 shares of the company’s stock worth $11,033,000 after buying an additional 587 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 1.3 %

LLY stock opened at $818.93 on Friday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The firm has a market cap of $778.34 billion, a PE ratio of 88.53, a P/E/G ratio of 3.07 and a beta of 0.42. The firm has a 50 day simple moving average of $911.04 and a 200 day simple moving average of $865.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 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 analysts’ expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 $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 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial boosted their price objective on shares of 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. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of 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. Finally, Barclays lowered their price objective 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 report on Thursday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,009.00.

Eli Lilly and 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.