Christensen King & Associates Investment Services Inc. Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Christensen King & Associates Investment Services Inc. trimmed its position in Eli Lilly and Company (NYSE:LLY) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,152 shares of the company’s stock after selling 63 shares during the quarter. Christensen King & Associates Investment Services Inc.’s holdings in Eli Lilly and Company were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. M&G Plc bought a new position in shares of Eli Lilly and Company in the first quarter worth about $8,896,000. Virtu Financial LLC bought a new position in Eli Lilly and Company in the 1st quarter worth approximately $2,138,000. China Universal Asset Management Co. Ltd. raised its position in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after buying an additional 1,620 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 404.8% in the first 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 in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Eli Lilly and Company by 0.6% during the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. BMO Capital Markets upped their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Trading Up 0.3 %

Shares of LLY opened at $909.15 on Wednesday. The firm has a market capitalization of $864.06 billion, a price-to-earnings ratio of 133.90, a PEG ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1-year low of $547.61 and a 1-year high of $972.53. The company has a 50-day moving average of $921.67 and a 200 day moving average of $860.45.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

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.