Eli Lilly and Company (NYSE:LLY) Shares Sold by Cadence Bank

by · The Cerbat Gem

Cadence Bank cut its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in LLY. Jacobs Levy Equity Management Inc. raised its holdings in Eli Lilly and Company by 357.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 11,074 shares of the company’s stock valued at $8,615,000 after acquiring an additional 8,651 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth $252,000. Semmax Financial Advisors Inc. increased its position in shares of Eli Lilly and Company by 89.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 157 shares of the company’s stock worth $119,000 after purchasing an additional 74 shares during the last quarter. XML Financial LLC raised its holdings in Eli Lilly and Company by 17.4% in the 1st quarter. XML Financial LLC now owns 1,758 shares of the company’s stock valued at $1,367,000 after buying an additional 261 shares during the period. Finally, National Wealth Management Group LLC boosted its stake in Eli Lilly and Company by 163.6% during the first quarter. National Wealth Management Group LLC now owns 1,189 shares of the company’s stock worth $925,000 after buying an additional 738 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on LLY shares. Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets increased their target price on 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. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on shares of 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. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,007.94.

View Our Latest Report on Eli Lilly and Company

Eli Lilly and Company Price Performance

Shares of LLY opened at $789.25 on Wednesday. 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 1-year low of $561.65 and a 1-year high of $972.53. The stock has a market cap of $749.25 billion, a PE ratio of 85.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.43. The firm has a fifty day moving average price of $859.30 and a 200 day moving average price of $870.41.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced 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). 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 for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

About Eli Lilly and Company

(Free Report)

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.

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