Pointe Capital Management LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Pointe Capital Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217 shares of the company’s stock after selling 16 shares during the period. Pointe Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&G Plc purchased a new position in Eli Lilly and Company in the first quarter worth approximately $8,896,000. Virtu Financial LLC purchased a new position in Eli Lilly and Company in the first quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. increased its holdings in Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after buying an additional 1,620 shares during the last quarter. Mutual Advisors LLC raised its stake in Eli Lilly and Company by 404.8% in the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock valued at $48,699,000 after buying an additional 50,197 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Eli Lilly and Company by 0.6% during the 1st quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after buying an additional 430 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LLY shares. Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Berenberg Bank lifted their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Trading Up 0.3 %

Shares of NYSE:LLY opened at $895.71 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average price is $919.22 and its 200 day moving average price is $864.16. The company has a market cap of $851.29 billion, a PE ratio of 131.92, a P/E/G ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts anticipate that Eli Lilly and Company will post 14.05 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 0.58%. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.