Eli Lilly and Company (NYSE:LLY) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,222 shares of the company’s stock after selling 612 shares during the quarter. Formidable Asset Management LLC’s holdings in Eli Lilly and were worth $975,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LLY. Legacy Bridge LLC increased its position in Eli Lilly and by 69.2% during the 3rd quarter. Legacy Bridge LLC now owns 110 shares of the company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Eli Lilly and during the 2nd quarter worth about $33,000. Financial Insights Inc. purchased a new stake in Eli Lilly and during the 2nd quarter worth about $36,000. Regency Capital Management Inc. DE purchased a new stake in Eli Lilly and during the 3rd quarter worth about $39,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Eli Lilly and during the 2nd quarter worth about $49,000. 81.79% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. Truist lifted their price objective on Eli Lilly and from $262.00 to $301.00 and gave the stock a “buy” rating in a research report on Wednesday, November 24th. Mizuho lifted their price target on Eli Lilly and from $272.00 to $302.00 in a report on Wednesday, January 5th. Wells Fargo & Company lifted their price target on Eli Lilly and from $270.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, January 4th. Barclays lifted their price target on Eli Lilly and from $280.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, December 20th. Finally, Truist Securities lifted their price target on Eli Lilly and from $262.00 to $301.00 and gave the company a “buy” rating in a report on Wednesday, November 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $287.74.

LLY traded down $3.16 during trading on Friday, hitting $246.51. The company had a trading volume of 22,249 shares, compared to its average volume of 2,775,004. The company has a market cap of $235.81 billion, a PE ratio of 38.06, a P/E/G ratio of 1.91 and a beta of 0.36. The business has a 50-day moving average of $260.85 and a 200-day moving average of $250.57. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.30 and a quick ratio of 1.02. Eli Lilly and Company has a 1-year low of $178.58 and a 1-year high of $283.90.

Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Monday, October 25th. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.04). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. Eli Lilly and had a net margin of 21.52% and a return on equity of 111.51%. The company’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 earnings per share. Research analysts forecast that Eli Lilly and Company will post 8.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 10th. Shareholders of record on Tuesday, February 15th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Eli Lilly and’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Monday, February 14th. Eli Lilly and’s dividend payout ratio is 51.83%.

In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 21,369 shares of the stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $252.33, for a total transaction of $5,392,039.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 424,939 shares of company stock worth $114,549,362 over the last three months. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Profile

Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.

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Institutional Ownership by Quarter for Eli Lilly and (NYSE:LLY)

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