Element Wealth LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Element Wealth LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 475 shares of the company’s stock after selling 68 shares during the quarter. Element Wealth LLC’s holdings in Eli Lilly and Company were worth $420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&G Plc purchased a new position in Eli Lilly and Company during the 1st quarter worth $8,896,000. Virtu Financial LLC purchased a new position in Eli Lilly and Company during the 1st quarter worth $2,138,000. China Universal Asset Management Co. Ltd. grew its stake in Eli Lilly and Company by 19.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after buying an additional 1,620 shares during the last quarter. Mutual Advisors LLC grew its stake in Eli Lilly and Company by 404.8% during the 1st quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after buying an additional 50,197 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Eli Lilly and Company by 0.6% during the 1st quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after buying an additional 430 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.1 %

Shares of LLY opened at $892.51 on Friday. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average is $920.32 and its two-hundred day moving average is $860.96. The stock has a market cap of $848.27 billion, a PE ratio of 109.92, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Research analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. Berenberg Bank boosted their price target 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. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Citigroup lifted their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday. Bank of America lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

About Eli Lilly and Company

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.