Beacon Investment Advisory Services Inc. Buys 906 Shares of Eli Lilly and Company (NYSE:LLY)

Beacon Investment Advisory Services Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,950 shares of the company’s stock after purchasing an additional 906 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Eli Lilly and Company were worth $17,675,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chesley Taft & Associates LLC lifted its holdings in shares of Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock worth $20,419,000 after purchasing an additional 1,163 shares during the period. OMNI 360 Wealth Inc. purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $239,000. Long Run Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter worth approximately $209,000. Essex Financial Services Inc. lifted its stake in Eli Lilly and Company by 5.8% in the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after buying an additional 1,556 shares during the last quarter. Finally, Sitrin Capital Management LLC acquired a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $5,986,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Up 0.9 %

Shares of LLY stock opened at $795.35 on Monday. The firm’s 50 day moving average is $851.90 and its 200 day moving average is $870.85. The stock has a market capitalization of $755.04 billion, a P/E ratio of 85.98, a P/E/G ratio of 3.01 and a beta of 0.43. 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 12-month low of $561.65 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results 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). The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. Research analysts expect that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 0.65%. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares in the company, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. Morgan Stanley restated 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. JPMorgan Chase & Co. raised their price objective 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. Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

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.