Ascent Group LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Ascent Group LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,917 shares of the company’s stock after selling 400 shares during the quarter. Eli Lilly and Company accounts for approximately 0.8% of Ascent Group LLC’s portfolio, making the stock its 23rd largest holding. Ascent Group LLC’s holdings in Eli Lilly and Company were worth $9,884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 period. Capital World Investors raised its stake in shares of Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the period. Capital Research Global Investors boosted its holdings in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the last quarter. Capital International Investors boosted its holdings in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Eli Lilly and Company by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock valued at $2,647,675,000 after buying an additional 85,015 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LLY shares. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the transaction, the insider now directly owns 97,308,620 shares of the company’s stock, valued at $89,062,687,541.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 423,559 shares of company stock valued at $393,136,808 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $877.79 on Friday. The company’s fifty day moving average price is $896.10 and its 200-day moving average price is $843.52. 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 capitalization of $834.26 billion, a price-to-earnings ratio of 129.28, a PEG ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a one year low of $516.57 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 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 business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts anticipate 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.