MTM Investment Management LLC Sells 1,130 Shares of Eli Lilly and Company (NYSE:LLY)

MTM Investment Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 10.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,664 shares of the company's stock after selling 1,130 shares during the quarter. Eli Lilly and Company makes up 3.3% of MTM Investment Management LLC's portfolio, making the stock its 3rd largest holding. MTM Investment Management LLC's holdings in Eli Lilly and Company were worth $8,573,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. International Assets Investment Management LLC boosted its holdings in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company's stock worth $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Capital Research Global Investors boosted its stake in Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company's stock worth $6,248,210,000 after acquiring an additional 453,939 shares during the last quarter. Capital International Investors grew its holdings in Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company's stock valued at $5,424,243,000 after purchasing an additional 335,560 shares during the period. Dimensional Fund Advisors LP increased its stake in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company's stock valued at $3,242,296,000 after purchasing an additional 171,595 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Eli Lilly and Company by 7.3% in the first quarter. Janus Henderson Group PLC now owns 3,575,684 shares of the company's stock worth $2,781,613,000 after purchasing an additional 243,729 shares during the period. 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 business's stock in a transaction that occurred on 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 directly owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 3.2 %

Shares of LLY stock traded up $23.68 during mid-day trading on Wednesday, reaching $753.41. 5,116,185 shares of the company's stock traded hands, compared to its average volume of 3,185,802. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company's 50-day moving average price is $875.60 and its 200-day moving average price is $870.81. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The company has a market cap of $715.23 billion, a P/E ratio of 80.40, a P/E/G ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data 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 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%. Eli Lilly and Company's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. On average, equities 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 company also recently declared 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. 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%.

Wall Street Analyst Weigh In

LLY has been the topic of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Bank of America dropped their price objective on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Citigroup upped their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Guggenheim raised their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,007.94.

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.