Northwestern Mutual Wealth Management Co. Grows Position in Eli Lilly and Company (NYSE:LLY)

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 154,106 shares of the company’s stock after purchasing an additional 7,183 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Eli Lilly and Company were worth $139,530,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LLY. NewEdge Advisors LLC lifted its position in shares of Eli Lilly and Company by 15.3% during the second quarter. NewEdge Advisors LLC now owns 123,167 shares of the company’s stock valued at $111,513,000 after buying an additional 16,334 shares during the last quarter. Northeast Financial Consultants Inc boosted its stake in Eli Lilly and Company by 0.6% in the second quarter. Northeast Financial Consultants Inc now owns 9,835 shares of the company’s stock valued at $8,905,000 after acquiring an additional 56 shares in the last quarter. Nemes Rush Group LLC grew its holdings in Eli Lilly and Company by 2.4% in the second quarter. Nemes Rush Group LLC now owns 13,698 shares of the company’s stock worth $12,401,000 after purchasing an additional 326 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in Eli Lilly and Company in the second quarter worth $30,619,000. Finally, Copperwynd Financial LLC increased its position in shares of Eli Lilly and Company by 6.5% during the second quarter. Copperwynd Financial LLC now owns 3,979 shares of the company’s stock worth $3,603,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 423,559 shares of company stock valued at $393,136,808 over the last ninety days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 3.5 %

Eli Lilly and Company stock opened at $877.79 on Friday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The stock has a market cap of $834.26 billion, a price-to-earnings ratio of 129.28, a PEG ratio of 2.78 and a beta of 0.42. The company’s 50-day moving average price is $896.10 and its two-hundred day moving average price is $843.52. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last released 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. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LLY. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Berenberg Bank increased their price objective 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. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

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.