Amalgamated Bank Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Amalgamated Bank grew its position in Eli Lilly and Company (NYSE:LLY) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,260 shares of the company’s stock after purchasing an additional 556 shares during the period. Eli Lilly and Company makes up approximately 1.3% of Amalgamated Bank’s investment portfolio, making the stock its 10th largest holding. Amalgamated Bank’s holdings in Eli Lilly and Company were worth $155,270,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the second quarter valued at about $36,000. Cedar Mountain Advisors LLC raised its holdings in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in Eli Lilly and Company during the second quarter worth about $45,000. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on LLY. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Morgan Stanley reiterated 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. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Sanford C. Bernstein started coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,008.41.

Eli Lilly and Company Stock Down 1.6 %

Shares of LLY opened at $806.14 on Tuesday. Eli Lilly and Company has a 52 week low of $561.65 and a 52 week high of $972.53. The stock has a market capitalization of $765.28 billion, a price-to-earnings ratio of 87.15, a PEG ratio of 3.09 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a fifty day moving average of $908.15 and a 200-day moving average of $867.39.

Eli Lilly and Company (NYSE:LLY) last announced 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 company had revenue of $11.44 billion for 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 firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.23 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 0.65%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.