Oak Harbor Wealth Partners LLC Sells 14 Shares of Eli Lilly and Company (NYSE:LLY)

Oak Harbor Wealth Partners LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,846 shares of the company’s stock after selling 14 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $1,635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LLY. Twelve Points Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC grew its holdings in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in 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. grew its holdings in Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership grew its holdings in Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 3.2 %

Shares of LLY opened at $785.95 on Friday. Eli Lilly and Company has a one year low of $561.65 and a one year high of $972.53. The company has a market cap of $746.12 billion, a P/E ratio of 84.97, a P/E/G ratio of 3.07 and a beta of 0.43. 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 firm has a 50 day simple moving average of $888.32 and a two-hundred day simple moving average of $870.29.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Research analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.66%. Eli Lilly and Company’s payout ratio is presently 56.22%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LLY shares. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Citigroup raised their price objective on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. 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 research report on Friday, September 13th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,008.41.

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.