Connable Office Inc. Sells 117 Shares of Eli Lilly and Company (NYSE:LLY)

Connable Office Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,719 shares of the company’s stock after selling 117 shares during the quarter. Eli Lilly and Company makes up approximately 0.6% of Connable Office Inc.’s investment portfolio, making the stock its 27th biggest holding. Connable Office Inc.’s holdings in Eli Lilly and Company were worth $5,953,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the second quarter worth $36,000. Cedar Mountain Advisors LLC lifted its stake in shares of 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 buying an additional 16 shares during the period. Morton Brown Family Wealth LLC grew its holdings in shares of 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 valued at $41,000 after buying an additional 15 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $45,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 3.2 %

NYSE LLY opened at $785.95 on Friday. Eli Lilly and Company has a 12 month low of $561.65 and a 12 month high of $972.53. The stock has a market capitalization of $746.12 billion, a P/E ratio of 84.97, a PEG ratio of 3.07 and a beta of 0.43. The firm’s 50-day moving average is $888.32 and its two-hundred day moving average is $870.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.21 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared 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. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 56.22%.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Redburn Atlantic upgraded Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America cut their price target on Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the 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.

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.