Eli Lilly and Company (NYSE:LLY) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.7% during the second quarter, HoldingsChannel reports. The firm owned 4,976 shares of the company’s stock after selling 599 shares during the quarter. Sunbelt Securities Inc.’s holdings in Eli Lilly and Company were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LLY. Aveo Capital Partners LLC increased its stake in Eli Lilly and Company by 8.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock valued at $1,178,000 after purchasing an additional 153 shares in the last quarter. J. W. Coons Advisors LLC increased its stake in Eli Lilly and Company by 4.0% during the 4th quarter. J. W. Coons Advisors LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after purchasing an additional 90 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Eli Lilly and Company by 27.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,024 shares of the company’s stock valued at $5,260,000 after purchasing an additional 1,967 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Eli Lilly and Company by 32.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,272 shares of the company’s stock worth $1,907,000 after acquiring an additional 807 shares during the period. Finally, NEOS Investment Management LLC increased its stake in shares of Eli Lilly and Company by 65.7% in the fourth quarter. NEOS Investment Management LLC now owns 12,673 shares of the company’s stock worth $7,387,000 after acquiring an additional 5,025 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. Morgan Stanley reiterated 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. Barclays increased their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their price objective on shares of 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. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Performance

LLY opened at $877.79 on Monday. 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 company 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. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm’s fifty day simple moving average is $896.10 and its two-hundred day simple moving average is $844.12.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 business had revenue of $11.30 billion for 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 anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Activity

In other 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 completion of the sale, the insider now directly owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 364,810 shares of company stock worth $339,366,198 over the last three months. Insiders own 0.13% of the company’s stock.

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.