Sheaff Brock Investment Advisors LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sheaff Brock Investment Advisors LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLYFree Report) by 11.9% in the third quarter, Holdings Channel reports. The fund owned 36,984 shares of the company’s stock after selling 4,977 shares during the period. Eli Lilly and Company accounts for 1.8% of Sheaff Brock Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Sheaff Brock Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $19,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. Vanguard Personalized Indexing Management LLC raised its position in Eli Lilly and Company by 10.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 72,190 shares of the company’s stock worth $38,776,000 after purchasing an additional 6,851 shares in the last quarter. Fort Point Capital Partners LLC raised its position in Eli Lilly and Company by 8.1% in the third quarter. Fort Point Capital Partners LLC now owns 2,498 shares of the company’s stock worth $1,342,000 after purchasing an additional 187 shares in the last quarter. Platform Technology Partners raised its position in Eli Lilly and Company by 3.0% in the third quarter. Platform Technology Partners now owns 2,151 shares of the company’s stock worth $1,155,000 after purchasing an additional 63 shares in the last quarter. KCM Investment Advisors LLC raised its position in Eli Lilly and Company by 11.9% in the third quarter. KCM Investment Advisors LLC now owns 36,282 shares of the company’s stock worth $19,488,000 after purchasing an additional 3,848 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Eli Lilly and Company by 12.9% in the third quarter. Van ECK Associates Corp now owns 209,554 shares of the company’s stock worth $112,558,000 after purchasing an additional 23,950 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Truist Financial reissued a “buy” rating and set a $650.00 price target on shares of Eli Lilly and Company in a research note on Wednesday, November 29th. Morgan Stanley increased their price objective on shares of Eli Lilly and Company from $727.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Barclays increased their price objective on shares of Eli Lilly and Company from $630.00 to $680.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Eli Lilly and Company in a report on Thursday, November 9th. They issued a “hold” rating and a $535.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $589.90.

Check Out Our Latest Stock Analysis on LLY

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 195,055 shares of company stock worth $125,254,657 over the last three months. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Trading Down 0.9 %

Shares of NYSE:LLY traded down $6.17 during mid-day trading on Tuesday, reaching $700.03. 6,349,252 shares of the company’s stock were exchanged, compared to its average volume of 3,254,466. The firm has a market capitalization of $664.54 billion, a price-to-earnings ratio of 127.87, a PEG ratio of 2.16 and a beta of 0.32. The business’s fifty day moving average price is $609.08 and its 200-day moving average price is $574.36. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05. Eli Lilly and Company has a twelve month low of $309.20 and a twelve month high of $742.00.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. On average, research analysts predict that Eli Lilly and Company will post 6.34 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Thursday, February 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.74%. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date is Wednesday, February 14th. Eli Lilly and Company’s dividend payout ratio is presently 94.20%.

About Eli Lilly and Company

(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.

Further Reading

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

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