Aviance Capital Partners LLC Acquires 2,675 Shares of Eli Lilly and Company (NYSE:LLY)

Aviance Capital Partners LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 63.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,919 shares of the company’s stock after purchasing an additional 2,675 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Aviance Capital Partners LLC’s holdings, making the stock its 27th largest holding. Aviance Capital Partners LLC’s holdings in Eli Lilly and Company were worth $6,130,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company during the second quarter worth $36,000. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE LLY opened at $727.57 on Tuesday. 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 cap of $690.70 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 2.82 and a beta of 0.43. The business has a 50 day simple moving average of $879.04 and a 200 day simple moving average of $870.84. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 company 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 firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued 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 dividend yield of 0.71%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of 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. Redburn Atlantic raised shares of Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. 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 for the company in a research note on Monday, November 4th. Finally, Wolfe Research started coverage on Eli Lilly and Company in a research note on Friday. They set an “outperform” rating and a $1,000.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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.