Kathmere Capital Management LLC Sells 661 Shares of Eli Lilly and Company (NYSE:LLY)

Kathmere Capital Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 14.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,986 shares of the company’s stock after selling 661 shares during the quarter. Kathmere Capital Management LLC’s holdings in Eli Lilly and Company were worth $3,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Planning LLC bought a new position in Eli Lilly and Company in the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Eli Lilly and Company in the 1st quarter valued at $6,916,000. M&G Plc acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth $8,896,000. HighPoint Advisor Group LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $9,878,000. Finally, Leo Wealth LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at about $3,355,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Citigroup started coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the sale, the insider now owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 423,559 shares of company stock valued at $393,136,808 in the last ninety days. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Down 3.5 %

Eli Lilly and Company stock opened at $877.50 on Friday. The firm has a market cap of $833.98 billion, a price-to-earnings ratio of 129.23, a PEG ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a 50 day moving average price of $896.10 and a two-hundred day moving average price of $842.91.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities analysts predict 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.