Oppenheimer & Co. Inc. Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Oppenheimer & Co. Inc. decreased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,967 shares of the company's stock after selling 1,596 shares during the quarter. Eli Lilly and Company accounts for 1.1% of Oppenheimer & Co. Inc.'s portfolio, making the stock its 11th largest position. Oppenheimer & Co. Inc.'s holdings in Eli Lilly and Company were worth $69,074,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company's stock valued at $7,699,000 after purchasing an additional 1,620 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Eli Lilly and Company in the first quarter valued at about $1,540,000. D Orazio & Associates Inc. increased its position in shares of Eli Lilly and Company by 2.5% in the first quarter. D Orazio & Associates Inc. now owns 1,936 shares of the company's stock valued at $1,506,000 after acquiring an additional 48 shares during the period. TBH Global Asset Management LLC raised its stake in shares of Eli Lilly and Company by 10.9% during the first quarter. TBH Global Asset Management LLC now owns 2,021 shares of the company's stock valued at $1,572,000 after acquiring an additional 199 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 2.9% in the first quarter. Kingsview Wealth Management LLC now owns 50,631 shares of the company's stock worth $39,389,000 after purchasing an additional 1,421 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 900 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent analyst reports. Berenberg Bank upped their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an "overweight" rating in a report on Friday, September 13th. Citigroup lifted 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 report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Finally, Evercore ISI raised shares of Eli Lilly and Company to a "hold" rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,008.41.

Eli Lilly and Company Stock Down 0.9 %

Shares of Eli Lilly and Company stock traded down $7.56 during midday trading on Wednesday, hitting $811.30. The company had a trading volume of 3,057,728 shares, compared to its average volume of 3,115,136. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market capitalization of $770.18 billion, a P/E ratio of 89.03, a P/E/G ratio of 3.10 and a beta of 0.43. The company has a 50 day moving average of $891.02 and a 200 day moving average of $870.71.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to analysts' expectations of $12.09 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company's revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.64%. Eli Lilly and Company's dividend payout ratio is currently 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.