Ridgecrest Wealth Partners LLC Sells 40 Shares of Eli Lilly and Company (NYSE:LLY)

Ridgecrest Wealth Partners LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816 shares of the company’s stock after selling 40 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $723,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LLY. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after purchasing an additional 12,448,888 shares during the period. Swedbank AB bought a new position in Eli Lilly and Company in the first quarter worth about $932,797,000. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Eli Lilly and Company by 92,759.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock worth $905,774,000 after buying an additional 1,021,287 shares during the period. Finally, Wulff Hansen & CO. boosted its position in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LLY. Deutsche Bank Aktiengesellschaft dropped 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 research report on Monday, November 4th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Sanford C. Bernstein started coverage on shares of 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. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America dropped their price objective on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,008.41.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $831.54 on Monday. The company has a market cap of $789.40 billion, a price-to-earnings ratio of 89.90, a P/E/G ratio of 3.15 and a beta of 0.43. The business’s fifty day simple moving average is $896.31 and its two-hundred day simple moving average is $868.39. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 13.21 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. Stockholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

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.