Glenmede Trust Co. NA Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

by · The Markets Daily

Glenmede Trust Co. NA trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,296 shares of the company’s stock after selling 5,297 shares during the quarter. Eli Lilly and Company makes up 1.5% of Glenmede Trust Co. NA’s holdings, making the stock its 6th biggest holding. Glenmede Trust Co. NA’s holdings in Eli Lilly and Company were worth $315,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peterson Financial Group Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the third quarter worth approximately $30,000. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 4.5 %

Eli Lilly and Company stock opened at $789.25 on Wednesday. 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 debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm’s 50-day simple moving average is $859.30 and its 200 day simple moving average is $870.41. 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.

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 for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business 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 quarter in the previous year, the firm earned $0.10 EPS. Research analysts predict that Eli Lilly and Company will post 13.2 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm 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 dividend of $1.30 per share. 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 presently 56.22%.

Insider Transactions at Eli Lilly and Company

In other 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 completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 target price on the stock. Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Bank of America dropped their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on 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. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Get Our Latest Research Report on Eli Lilly and Company

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.

Further Reading

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY – Free Report).