Legacy Bridge LLC Sells 55 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Bridge LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,407 shares of the company’s stock after selling 55 shares during the quarter. Eli Lilly and Company comprises about 1.6% of Legacy Bridge LLC’s holdings, making the stock its 9th largest holding. Legacy Bridge LLC’s holdings in Eli Lilly and Company were worth $3,018,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in 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 valued at $11,041,631,000 after purchasing an additional 12,448,888 shares during the last quarter. Capital Research Global Investors raised its position in shares of Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares during the period. Capital International Investors lifted its holdings in Eli Lilly and Company by 5.1% in the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after acquiring an additional 335,560 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after acquiring an additional 171,595 shares during the period. Finally, Janus Henderson Group PLC grew its position in Eli Lilly and Company by 7.3% in the first quarter. Janus Henderson Group PLC now owns 3,575,684 shares of the company’s stock worth $2,781,613,000 after acquiring an additional 243,729 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. Berenberg Bank upped their price target 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. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Guggenheim increased their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Sanford C. Bernstein assumed coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Finally, Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $727.57 on Tuesday. The business has a 50-day simple moving average of $879.04 and a 200-day simple moving average of $870.84. 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 one year low of $561.65 and a one year high of $972.53. The company has a market cap of $690.70 billion, a PE ratio of 78.66, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is presently 56.22%.

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.