Garden State Investment Advisory Services LLC Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Garden State Investment Advisory Services LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 16.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,634 shares of the company’s stock after buying an additional 372 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Eli Lilly and Company were worth $2,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LLY. Peterson Financial Group Inc. purchased a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth about $30,000. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the 2nd quarter valued at about $36,000. Finally, Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets boosted their target price 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. Deutsche Bank Aktiengesellschaft cut their price objective 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. Bank of America reduced their target price on 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. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Trading Up 0.3 %

Shares of NYSE LLY opened at $798.00 on Monday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The business has a fifty day moving average price of $851.90 and a 200 day moving average price of $870.85. The stock has a market capitalization of $757.56 billion, a P/E ratio of 85.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. 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 (NYSE:LLY) last released 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 net margin of 20.48% and a return on equity of 71.08%. The firm had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’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 in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.