Lake Street Private Wealth LLC Sells 2,004 Shares of Eli Lilly and Company (NYSE:LLY)

Lake Street Private Wealth LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 24.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,283 shares of the company’s stock after selling 2,004 shares during the period. Lake Street Private Wealth LLC’s holdings in Eli Lilly and Company were worth $5,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Swedbank AB bought a new position in Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after acquiring an additional 936,033 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares during the period. Finally, Comerica Bank boosted its holdings in Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial upped their target price on shares of 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 objective on shares of Eli Lilly and Company in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Berenberg Bank raised their target price 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. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $902.96 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a market cap of $858.18 billion, a price-to-earnings ratio of 132.98, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The stock’s 50-day moving average is $921.12 and its 200-day moving average is $860.74. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53.

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

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.