MGB Wealth Management LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

MGB Wealth Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,142 shares of the company’s stock after purchasing an additional 115 shares during the quarter. MGB Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 45.2% in the third quarter. Penserra Capital Management LLC now owns 870 shares of the company’s stock valued at $770,000 after purchasing an additional 271 shares during the period. WESPAC Advisors LLC boosted its stake in Eli Lilly and Company by 3.5% during the third quarter. WESPAC Advisors LLC now owns 2,459 shares of the company’s stock worth $2,179,000 after buying an additional 84 shares during the period. Lane & Associates LLC boosted its stake in Eli Lilly and Company by 2.5% during the third quarter. Lane & Associates LLC now owns 2,661 shares of the company’s stock worth $2,358,000 after buying an additional 66 shares during the period. Truepoint Inc. boosted its stake in Eli Lilly and Company by 99.1% during the third quarter. Truepoint Inc. now owns 462 shares of the company’s stock worth $409,000 after buying an additional 230 shares during the period. Finally, Jim Saulnier & Associates LLC purchased a new position in Eli Lilly and Company during the third quarter worth about $210,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.3 %

Shares of NYSE:LLY opened at $748.01 on Friday. The firm’s 50 day moving average price is $865.01 and its 200 day moving average price is $869.65. The stock has a market cap of $710.10 billion, a price-to-earnings ratio of 80.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.43. 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 quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share 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 analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 13.2 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.70%. Eli Lilly and Company’s payout ratio is currently 56.22%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LLY. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Guggenheim increased their target price 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, BMO Capital Markets increased their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

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.