Montecito Bank & Trust Takes Position in Eli Lilly and Company $LLY

Montecito Bank & Trust acquired a new position in Eli Lilly and Company (NYSE:LLY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,810 shares of the company’s stock, valued at approximately $7,485,000. Eli Lilly and Company accounts for about 1.2% of Montecito Bank & Trust’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Wealth Preservation Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Eli Lilly and Company during the second quarter valued at approximately $27,000. Evolution Wealth Management Inc. bought a new position in Eli Lilly and Company in the second quarter worth approximately $29,000. Steph & Co. raised its stake in Eli Lilly and Company by 290.0% in the third quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Eli Lilly and Company during the second quarter worth $31,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $1,056.57 on Friday. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $1,111.99. The company has a market cap of $998.86 billion, a PE ratio of 51.69, a P/E/G ratio of 1.31 and a beta of 0.37. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.24 and a current ratio of 1.55. The business has a 50-day simple moving average of $956.00 and a two-hundred day simple moving average of $828.10.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.60. The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a net margin of 30.99% and a return on equity of 109.52%. The company’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be paid a dividend of $1.73 per share. The ex-dividend date is Friday, February 13th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 annualized dividend and a dividend yield of 0.7%. Eli Lilly and Company’s payout ratio is presently 29.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Eli Lilly and Company from $1,171.00 to $1,290.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Eli Lilly and Company in a research note on Monday. Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. CICC Research raised their price target on shares of Eli Lilly and Company from $801.00 to $1,060.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $830.00 to $950.00 and gave the stock a “hold” rating in a research report on Tuesday, December 2nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,141.73.

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.