Marietta Wealth Management LLC Sells 80 Shares of Eli Lilly and Company (NYSE:LLY)

Marietta Wealth Management LLC lessened its position in Eli Lilly and Company (NYSE:LLY) by 0.6% during the third quarter, Holdings Channel.com reports. The fund owned 12,824 shares of the company’s stock after selling 80 shares during the period. Eli Lilly and Company accounts for 1.7% of Marietta Wealth Management LLC’s holdings, making the stock its 16th largest holding. Marietta Wealth Management LLC’s holdings in Eli Lilly and Company were worth $11,361,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LLY. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $40,000. Morton Brown Family Wealth LLC raised its position in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial raised their price objective 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. Morgan Stanley reissued 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. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,002.24.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $902.96 on Thursday. The company has a market capitalization of $858.18 billion, a price-to-earnings ratio of 132.98, a PEG ratio of 2.79 and a beta of 0.42. 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 stock’s 50-day simple moving average is $921.12 and its 200-day simple moving average is $860.74. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53.

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, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, analysts expect 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.