Taurus Asset Management LLC Sells 29 Shares of Eli Lilly and Company (NYSE:LLY)

Taurus Asset Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,533 shares of the company’s stock after selling 29 shares during the quarter. Taurus Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC lifted its stake in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Down 5.1 %

Shares of LLY stock opened at $746.20 on Monday. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The stock’s fifty day moving average price is $882.65 and its 200 day moving average price is $871.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The company has a market cap of $708.38 billion, a price-to-earnings ratio of 80.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.70%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup raised their price target on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Guggenheim raised their price objective on 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. Wolfe Research started coverage on Eli Lilly and Company in a report on Friday. They set an “outperform” rating and a $1,000.00 price objective on the stock. Bank of America reduced their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

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.