Cornerstone Advisors LLC Acquires 1,100 Shares of Eli Lilly and Company (NYSE:LLY)

Cornerstone Advisors LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,400 shares of the company's stock after buying an additional 1,100 shares during the period. Eli Lilly and Company accounts for approximately 1.5% of Cornerstone Advisors LLC's holdings, making the stock its 10th biggest holding. Cornerstone Advisors LLC's holdings in Eli Lilly and Company were worth $38,450,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LLY. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $27,000. MidAtlantic Capital Management Inc. acquired a new stake in Eli Lilly and Company during the 3rd quarter valued at $30,000. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $36,000. Finally, Morton Brown Family Wealth LLC lifted its holdings 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 period. 82.53% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction dated Friday, November 8th. The stock was 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 $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup upped their price target on shares of 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. BMO Capital Markets lifted 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 report on Friday, August 9th. Finally, Wolfe Research assumed coverage on Eli Lilly and Company in a research note on Friday, November 15th. They issued an "outperform" rating and a $1,000.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. 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 Stock Down 1.0 %

LLY traded down $7.60 during trading on Thursday, hitting $745.81. The stock had a trading volume of 1,893,082 shares, compared to its average volume of 3,180,113. The stock has a 50 day simple moving average of $872.25 and a two-hundred day simple moving average of $869.98. The company has a market capitalization of $708.01 billion, a PE ratio of 80.00, a PEG ratio of 2.76 and a beta of 0.43. 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 has a twelve month low of $561.65 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 business had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. During the same period last year, the company earned $0.10 earnings per share. The firm's revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company's payout ratio is 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.