Duff & Phelps Investment Management Co. Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Duff & Phelps Investment Management Co. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 80.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,831 shares of the company’s stock after selling 7,370 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Eli Lilly and Company were worth $1,658,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LLY. Aviso Wealth Management increased its stake in shares of Eli Lilly and Company by 3.8% in the 2nd quarter. Aviso Wealth Management now owns 2,139 shares of the company’s stock worth $1,936,000 after purchasing an additional 79 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Eli Lilly and Company by 94.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,635 shares of the company’s stock worth $1,480,000 after purchasing an additional 793 shares in the last quarter. MidWestOne Financial Group Inc. increased its stake in shares of Eli Lilly and Company by 0.6% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 6,348 shares of the company’s stock worth $5,747,000 after purchasing an additional 36 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Eli Lilly and Company by 16.4% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,885 shares of the company’s stock worth $12,571,000 after purchasing an additional 1,958 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its stake in shares of Eli Lilly and Company by 3.0% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,451 shares of the company’s stock worth $1,314,000 after purchasing an additional 42 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 3.5 %

Shares of NYSE LLY opened at $877.79 on Monday. The firm’s 50-day moving average price is $896.10 and its 200-day moving average price is $844.12. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $834.26 billion, a price-to-earnings ratio of 129.28, a P/E/G ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (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 net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the sale, the insider now directly owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 364,810 shares of company stock worth $339,366,198. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Guggenheim upped their price objective 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. Berenberg Bank upped 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 report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group upped their target price 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

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.