Keudell Morrison Wealth Management Grows Position in Eli Lilly and Company (NYSE:LLY)

Keudell Morrison Wealth Management increased its position in Eli Lilly and Company (NYSE:LLY) by 3.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,006 shares of the company’s stock after acquiring an additional 186 shares during the period. Eli Lilly and Company comprises about 1.2% of Keudell Morrison Wealth Management’s holdings, making the stock its 15th biggest position. Keudell Morrison Wealth Management’s holdings in Eli Lilly and Company were worth $4,435,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the period. Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth approximately $45,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $8.45 during mid-day trading on Thursday, reaching $784.83. The company had a trading volume of 763,940 shares, compared to its average volume of 3,076,606. The business’s 50-day simple moving average is $901.75 and its 200 day simple moving average is $867.32. The firm has a market cap of $745.05 billion, a price-to-earnings ratio of 83.94, a PEG ratio of 3.05 and a beta of 0.43. 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 one year low of $561.65 and a one year 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 for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup increased their price objective 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. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Guggenheim lifted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Bank of America cut their price target 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. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.