Tradition Wealth Management LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Tradition Wealth Management LLC boosted its position in shares of Eli Lilly and Company (NYSE:LLY) by 14.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,403 shares of the company’s stock after purchasing an additional 172 shares during the period. Tradition Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $201,000. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the second quarter valued at $32,000. Harbor Capital Advisors Inc. boosted its stake in Eli Lilly and Company by 0.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,978 shares of the company’s stock valued at $13,561,000 after acquiring an additional 119 shares during the last quarter. Olistico Wealth LLC increased its position in shares of Eli Lilly and Company by 3.6% in the 2nd quarter. Olistico Wealth LLC now owns 3,885 shares of the company’s stock worth $3,517,000 after purchasing an additional 135 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 53.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 13,799 shares of the company’s stock worth $12,494,000 after purchasing an additional 4,778 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced 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 note on Monday, November 4th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity

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

Eli Lilly and Company Price Performance

Shares of LLY opened at $795.35 on Monday. The firm has a market capitalization of $755.04 billion, a price-to-earnings ratio of 85.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. The stock’s fifty day moving average is $851.90 and its 200-day moving average is $870.85. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. 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 (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current 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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 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.