Main Street Financial Solutions LLC Sells 570 Shares of Eli Lilly and Company (NYSE:LLY)

Main Street Financial Solutions LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,375 shares of the company’s stock after selling 570 shares during the period. Main Street Financial Solutions LLC’s holdings in Eli Lilly and Company were worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LLY. Schrum Private Wealth Management LLC purchased a new position in Eli Lilly and Company during the 3rd quarter valued at $312,000. Kovack Advisors Inc. lifted its position in shares of Eli Lilly and Company by 9.7% during the third quarter. Kovack Advisors Inc. now owns 4,956 shares of the company’s stock worth $4,391,000 after purchasing an additional 440 shares during the last quarter. Pinnacle Financial Partners Inc lifted its stake in Eli Lilly and Company by 0.8% in the third quarter. Pinnacle Financial Partners Inc now owns 35,961 shares of the company’s stock worth $31,859,000 after acquiring an additional 275 shares during the period. Hartline Investment Corp grew its holdings in Eli Lilly and Company by 33.9% during the 3rd quarter. Hartline Investment Corp now owns 26,958 shares of the company’s stock worth $23,883,000 after acquiring an additional 6,818 shares in the last quarter. Finally, Mengis Capital Management Inc. increased its position in Eli Lilly and Company by 2.2% during the 3rd quarter. Mengis Capital Management Inc. now owns 7,559 shares of the company’s stock valued at $6,697,000 after purchasing an additional 160 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of 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. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Guggenheim raised their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.6 %

Shares of NYSE LLY traded up $4.65 during midday trading on Wednesday, hitting $823.51. The company’s stock had a trading volume of 1,025,480 shares, compared to its average volume of 4,277,926. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. The firm has a market capitalization of $781.77 billion, a price-to-earnings ratio of 89.03, a price-to-earnings-growth ratio of 3.10 and a beta of 0.43. The business’s fifty day simple moving average is $891.02 and its two-hundred day simple moving average is $870.71. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. On average, equities analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid 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 currently 56.22%.

Eli Lilly and Company 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.