Eli Lilly and Company (NYSE:LLY) Shares Sold by Payden & Rygel

Payden & Rygel decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 48.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,520 shares of the company's stock after selling 11,700 shares during the quarter. Payden & Rygel's holdings in Eli Lilly and Company were worth $11,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. increased its holdings in shares of Eli Lilly and Company by 5.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,839 shares of the company's stock valued at $2,987,000 after acquiring an additional 196 shares during the period. Guardian Capital LP raised its holdings in shares of Eli Lilly and Company by 3.0% in the first quarter. Guardian Capital LP now owns 921 shares of the company's stock valued at $717,000 after buying an additional 27 shares during the last quarter. Envoi LLC purchased a new position in shares of Eli Lilly and Company during the first quarter worth about $238,000. Altitude Crest Partners Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $7,157,000. Finally, Gabelli Funds LLC lifted its position in Eli Lilly and Company by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 127,554 shares of the company's stock worth $99,232,000 after acquiring an additional 698 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm's stock in a transaction on Friday, November 8th. The shares were 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 of the company's stock, valued at approximately $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their target price on Eli Lilly and Company from $1,025.00 to $1,015.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. 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 research note on Friday, October 25th. Finally, BMO Capital Markets boosted their price target on 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 research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,007.94.

Eli Lilly and Company Trading Down 1.2 %

LLY stock traded down $8.96 on Thursday, hitting $744.45. 1,664,712 shares of the company were exchanged, compared to its average volume of 3,179,102. 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 has a market capitalization of $706.72 billion, a price-to-earnings ratio of 80.00, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The business's fifty day moving average is $872.25 and its two-hundred day moving average is $869.98.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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 firm had revenue of $11.44 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. As a group, research analysts forecast that Eli Lilly and Company will post 13.21 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 given a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company's dividend payout ratio (DPR) 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.