Eli Lilly and Company (NYSE:LLY) is Martingale Asset Management L P’s 5th Largest Position

Martingale Asset Management L P cut its stake in Eli Lilly and Company (NYSE:LLY) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,730 shares of the company’s stock after selling 12,602 shares during the quarter. Eli Lilly and Company comprises about 1.2% of Martingale Asset Management L P’s holdings, making the stock its 5th largest position. Martingale Asset Management L P’s holdings in Eli Lilly and Company were worth $50,259,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Carl P. Sherr & Co. LLC grew its position in shares of Eli Lilly and Company by 0.4% in the third quarter. Carl P. Sherr & Co. LLC now owns 5,526 shares of the company’s stock valued at $4,896,000 after purchasing an additional 24 shares in the last quarter. Hantz Financial Services Inc. grew its position in Eli Lilly and Company by 0.9% during the third quarter. Hantz Financial Services Inc. now owns 17,961 shares of the company’s stock worth $15,912,000 after buying an additional 155 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in Eli Lilly and Company by 25.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 35,277 shares of the company’s stock worth $31,253,000 after buying an additional 7,154 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in Eli Lilly and Company by 22.4% during the third quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the company’s stock worth $106,000 after buying an additional 22 shares in the last quarter. Finally, Vinva Investment Management Ltd grew its position in Eli Lilly and Company by 9.9% during the third quarter. Vinva Investment Management Ltd now owns 36,083 shares of the company’s stock worth $31,673,000 after buying an additional 3,246 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.1 %

LLY opened at $788.19 on Friday. The business has a 50 day simple moving average of $854.42 and a two-hundred day simple moving average of $869.27. The firm has a market capitalization of $748.24 billion, a price-to-earnings ratio of 85.21, a PEG ratio of 2.99 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced 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). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

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 given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analyst Ratings Changes

Several equities analysts recently commented on LLY shares. Barclays reduced their target price on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Bank of America reduced their target price on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced 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 report on Monday, November 4th. Truist Financial boosted their target price 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. Finally, Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. 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, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

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.