Focus Financial Network Inc. Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Focus Financial Network Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,874 shares of the company’s stock after selling 303 shares during the quarter. Focus Financial Network Inc.’s holdings in Eli Lilly and Company were worth $10,519,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,025.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. 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 research note on Friday, September 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,009.00.

Eli Lilly and Company Stock Down 2.0 %

Shares of LLY opened at $829.84 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The stock’s 50 day moving average is $913.71 and its two-hundred day moving average is $864.86. The firm has a market cap of $788.70 billion, a P/E ratio of 89.71, a PEG ratio of 3.07 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 73.73%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Eli Lilly and Company Profile

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.