Eli Lilly and Company (NYSE:LLY) Position Lessened by Morse Asset Management Inc

by · The Markets Daily

Morse Asset Management Inc cut its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 11,034 shares of the company’s stock after selling 338 shares during the quarter. Eli Lilly and Company comprises 1.9% of Morse Asset Management Inc’s holdings, making the stock its 14th biggest position. Morse Asset Management Inc’s holdings in Eli Lilly and Company were worth $5,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Eli Lilly and Company during the first quarter valued at approximately $107,000. Roundview Capital LLC boosted its holdings in Eli Lilly and Company by 2.6% during the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after purchasing an additional 53 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Eli Lilly and Company during the first quarter valued at approximately $210,000. NewEdge Advisors LLC boosted its holdings in Eli Lilly and Company by 9.9% during the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in Eli Lilly and Company during the first quarter valued at approximately $561,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Wednesday, November 8th. TheStreet downgraded Eli Lilly and Company from a “b” rating to a “c+” rating in a report on Monday, December 4th. Truist Financial lifted their price objective on Eli Lilly and Company from $650.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Eli Lilly and Company in a report on Thursday, November 9th. They issued a “hold” rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $663.33.

Read Our Latest Report on LLY

Eli Lilly and Company Trading Down 0.0 %

Shares of Eli Lilly and Company stock traded down $0.10 on Friday, hitting $769.54. 2,394,805 shares of the company’s stock traded hands, compared to its average volume of 3,727,949. Eli Lilly and Company has a one year low of $309.20 and a one year high of $794.47. The stock has a market capitalization of $731.19 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.82. The firm’s 50-day moving average price is $654.76 and its two-hundred day moving average price is $601.97.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The firm’s revenue was up 28.1% on a year-over-year basis. On average, research analysts expect that Eli Lilly and Company will post 12.5 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.30 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.20 annualized dividend and a dividend yield of 0.68%. Eli Lilly and Company’s payout ratio is 89.66%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 14,388 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $630.28, for a total value of $9,068,468.64. Following the completion of the transaction, the insider now owns 99,754,422 shares of the company’s stock, valued at approximately $62,873,217,098.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 195,055 shares of company stock valued at $125,254,657 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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