Advisors Asset Management Inc. Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Advisors Asset Management Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 14.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,932 shares of the company's stock after selling 6,922 shares during the period. Eli Lilly and Company comprises 0.7% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 16th largest position. Advisors Asset Management Inc.'s holdings in Eli Lilly and Company were worth $36,263,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Twelve Points Wealth Management LLC lifted its position in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company's stock valued at $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC boosted its stake in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company's stock valued at $662,000 after purchasing an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company's stock valued at $464,000 after buying an additional 11 shares during the period. Summit Financial Strategies Inc. lifted its position in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company's stock worth $1,865,000 after purchasing an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership increased its stake in shares of Eli Lilly and Company by 0.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company's stock worth $2,136,000 after acquiring an additional 11 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

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 transaction, the chief accounting officer now owns 5,480 shares of the company's stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Up 3.2 %

NYSE LLY traded up $23.68 during trading hours on Wednesday, hitting $753.41. The company's stock had a trading volume of 5,152,395 shares, compared to its average volume of 3,185,802. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The company has a market capitalization of $715.23 billion, a PE ratio of 80.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.43. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The company's 50-day simple moving average is $875.60 and its two-hundred day simple moving average is $870.81.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. Eli Lilly and Company's revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Research analysts anticipate that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company's dividend payout ratio is presently 56.22%.

Analysts Set New Price Targets

LLY has been the subject of a number of research analyst reports. Redburn Atlantic upgraded shares of Eli Lilly and Company to a "hold" rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. BMO Capital Markets boosted their price objective on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Finally, Morgan Stanley reissued an "overweight" rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,007.94.

Eli Lilly and Company Company Profile

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.