Archer Investment Corp Sells 386 Shares of Eli Lilly and Company (NYSE:LLY)

Archer Investment Corp trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 12.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,728 shares of the company’s stock after selling 386 shares during the quarter. Archer Investment Corp’s holdings in Eli Lilly and Company were worth $2,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Twelve Points Wealth Management LLC grew its position in shares of Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares during the period. Verum Partners LLC lifted its stake in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the period. Beaird Harris Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares during the period. Summit Financial Strategies Inc. increased its holdings in Eli Lilly and Company by 0.5% in the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock valued at $1,865,000 after purchasing an additional 11 shares during the last quarter. Finally, Prio Wealth Limited Partnership lifted its stake in Eli Lilly and Company by 0.5% in the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Eli Lilly and Company from $1,025.00 to $1,015.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Bank of America reduced their target price on 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. Finally, Guggenheim increased their price target 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 equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated 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 owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 3.0 %

Shares of NYSE LLY traded down $23.72 during trading hours on Friday, hitting $762.51. The company had a trading volume of 784,933 shares, compared to its average volume of 3,108,637. Eli Lilly and Company has a 1-year low of $561.65 and a 1-year high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm’s 50 day moving average is $885.79 and its 200-day moving average is $869.71. The stock has a market capitalization of $723.87 billion, a P/E ratio of 82.43, a price-to-earnings-growth ratio of 3.07 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. On average, analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal 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 paid a dividend of $1.30 per share. The ex-dividend date is Friday, November 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.68%. Eli Lilly and Company’s dividend payout ratio 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.