Eli Lilly and Company (NYSE:LLY) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 43,400 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Eli Lilly and Company accounts for about 1.5% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Cornerstone Advisors LLC’s holdings in Eli Lilly and Company were worth $38,450,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in Eli Lilly and Company by 87,091.7% in the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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. Janus Henderson Group PLC increased its stake in Eli Lilly and Company by 7.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,575,684 shares of the company’s stock worth $2,781,613,000 after buying an additional 243,729 shares during the period. Ameriprise Financial Inc. lifted its holdings in Eli Lilly and Company by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock worth $2,741,832,000 after buying an additional 22,392 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Eli Lilly and Company by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 2,069,881 shares of the company’s stock valued at $1,874,029,000 after buying an additional 100,426 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. 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 for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on shares of 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. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company raised their price target 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. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Eli Lilly and Company Price Performance

Shares of LLY opened at $753.41 on Thursday. 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 has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The firm has a 50-day simple moving average of $872.25 and a 200-day simple moving average of $869.98. The company has a market capitalization of $715.23 billion, a price-to-earnings ratio of 81.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43.

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 analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

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.