Cadence Bank Lowers Position in Eli Lilly and Company (NYSE:LLY)

Cadence Bank reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,811 shares of the company’s stock after selling 1,117 shares during the period. Cadence Bank’s holdings in Eli Lilly and Company were worth $10,464,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LLY. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company in the third quarter valued at approximately $27,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth $30,000. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’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 of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. 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.

Eli Lilly and Company Stock Up 4.5 %

Shares of NYSE:LLY opened at $789.25 on Wednesday. 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 1 year low of $561.65 and a 1 year high of $972.53. The stock has a 50-day simple moving average of $859.30 and a 200-day simple moving average of $870.41. The stock has a market capitalization of $749.25 billion, a P/E ratio of 85.32, a PEG ratio of 2.86 and a beta of 0.43.

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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts forecast that Eli Lilly and Company will post 13.2 earnings per share 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 paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LLY. Barclays lowered their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Wolfe Research started coverage on Eli Lilly and Company in a research report on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Citigroup increased their price objective on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus 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.