Providence Wealth Advisors LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Providence Wealth Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 0.2% during the third quarter, HoldingsChannel reports. The firm owned 12,760 shares of the company’s stock after selling 26 shares during the period. Eli Lilly and Company comprises 8.4% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its biggest position. Providence Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $11,525,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock valued at $5,417,970,000 after acquiring an additional 157,741 shares during the period. Fisher Asset Management LLC increased its stake in Eli Lilly and Company by 3.5% during the third quarter. Fisher Asset Management LLC now owns 5,058,101 shares of the company’s stock valued at $4,481,175,000 after acquiring an additional 169,391 shares during the period. Dimensional Fund Advisors LP increased its stake in Eli Lilly and Company by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock valued at $3,242,296,000 after acquiring an additional 171,595 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after acquiring an additional 22,392 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Barclays decreased their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock opened at $788.19 on Friday. 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 company has a 50 day moving average price of $854.42 and a 200 day moving average price of $869.27. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The stock has a market capitalization of $748.24 billion, a PE ratio of 85.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts forecast 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. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 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.