Eli Lilly and Company (NYSE:LLY) Shares Sold by Alerus Financial NA

Alerus Financial NA lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,507 shares of the company's stock after selling 1,281 shares during the period. Eli Lilly and Company accounts for about 1.3% of Alerus Financial NA's portfolio, making the stock its 15th largest position. Alerus Financial NA's holdings in Eli Lilly and Company were worth $18,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $22,983,000. Paradigm Capital Management LLC NV purchased a new position in shares of Eli Lilly and Company during the third quarter valued at $425,000. FSA Wealth Management LLC bought a new stake in shares of Eli Lilly and Company in the third quarter valued at about $301,000. Erste Asset Management GmbH bought a new position in Eli Lilly and Company during the 3rd quarter worth about $35,618,000. Finally, Plotkin Financial Advisors LLC purchased a new position in Eli Lilly and Company during the 3rd quarter valued at about $845,000. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Citigroup upped their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an "overweight" rating in a report on Friday, August 9th. Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a report on Monday, November 4th. Four 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.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus 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 directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $7.16 during mid-day trading on Friday, reaching $795.35. The stock had a trading volume of 2,206,918 shares, compared to its average volume of 4,869,603. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The firm has a market cap of $755.04 billion, a price-to-earnings ratio of 85.98, a PEG ratio of 3.01 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 business's fifty day moving average is $851.90 and its 200-day moving average is $870.26.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly 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). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. On average, research analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current 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 issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company's payout ratio is 56.22%.

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.