Eli Lilly and Company (NYSE:LLY) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,762 shares of the company's stock after selling 719 shares during the quarter. Eli Lilly and Company accounts for approximately 1.7% of Portfolio Design Labs LLC's investment portfolio, making the stock its 9th biggest holding. Portfolio Design Labs LLC's holdings in Eli Lilly and Company were worth $5,991,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the third quarter valued at $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth approximately $30,000. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company's stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

LLY has been the subject of several recent research reports. 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. Redburn Atlantic upgraded Eli Lilly and Company to a "hold" rating in a research report on Monday, November 4th. 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. Evercore ISI raised shares of Eli Lilly and Company to a "hold" rating in a research note on Thursday, September 5th. Finally, 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 stock an "outperform" rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,007.94.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $23.68 during trading hours on Wednesday, reaching $753.41. 5,116,185 shares of the company were exchanged, compared to its average volume of 3,185,802. The company has a market cap of $715.23 billion, a price-to-earnings ratio of 80.40, a P/E/G ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. 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 stock's fifty day moving average is $875.60 and its two-hundred day moving average is $870.81.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). The firm 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 company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Eli Lilly and 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.