Ted Buchan & Co Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Ted Buchan & Co raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,136 shares of the company’s stock after buying an additional 170 shares during the quarter. Eli Lilly and Company makes up about 0.9% of Ted Buchan & Co’s holdings, making the stock its 28th largest holding. Ted Buchan & Co’s holdings in Eli Lilly and Company were worth $1,892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Houlihan Financial Resource Group Ltd. purchased a new stake in Eli Lilly and Company during the third quarter valued at $447,000. Summit Wealth & Retirement Planning Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at about $262,000. Mach 1 Financial Group LLC boosted its holdings in shares of Eli Lilly and Company by 22.6% in the third quarter. Mach 1 Financial Group LLC now owns 798 shares of the company’s stock worth $707,000 after buying an additional 147 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in Eli Lilly and Company by 0.7% during the third quarter. Mesirow Financial Investment Management Inc. now owns 16,003 shares of the company’s stock valued at $14,183,000 after buying an additional 111 shares during the period. Finally, XML Financial LLC increased its holdings in Eli Lilly and Company by 1.0% during the third quarter. XML Financial LLC now owns 1,775 shares of the company’s stock valued at $1,572,000 after buying an additional 17 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $831.54 on Friday. The company has a market cap of $789.40 billion, a P/E ratio of 89.90, a P/E/G ratio of 2.94 and a beta of 0.43. The business’s 50 day moving average price is $896.31 and its 200-day moving average price is $867.53. 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 quick ratio of 0.97 and a current ratio of 1.27.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) 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 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 was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Sell-side 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 firm also recently declared 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 is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 of the company’s stock, valued at $4,402,522.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. BMO Capital Markets upped their price objective 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. Bank of America decreased their price objective on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. 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. Finally, Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,008.41.

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.