Hartford Funds Management Co LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Hartford Funds Management Co LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 1,418 shares of the company’s stock after purchasing an additional 55 shares during the period. Eli Lilly and Company comprises 0.1% of Hartford Funds Management Co LLC’s portfolio, making the stock its 25th largest holding. Hartford Funds Management Co LLC’s holdings in Eli Lilly and Company were worth $1,256,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Peterson Financial Group Inc. bought a new position in Eli Lilly and Company in the third quarter worth approximately $27,000. MidAtlantic Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the 3rd quarter worth $30,000. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter valued at about $36,000. Finally, Morton Brown Family Wealth LLC grew its stake in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.3 %

Shares of LLY stock opened at $748.01 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The stock has a 50 day moving average of $865.01 and a 200 day moving average of $869.65. The stock has a market cap of $710.10 billion, a P/E ratio of 80.87, a P/E/G ratio of 2.84 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.2 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Truist Financial upped their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on 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. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

About Eli Lilly and Company

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.