Convergence Financial LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Convergence Financial LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,596 shares of the company’s stock after purchasing an additional 299 shares during the quarter. Convergence Financial LLC’s holdings in Eli Lilly and Company were worth $3,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sigma Investment Counselors Inc. increased its holdings in Eli Lilly and Company by 9.5% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,341 shares of the company’s stock worth $1,188,000 after purchasing an additional 116 shares during the last quarter. Massachusetts Wealth Management increased its holdings in Eli Lilly and Company by 15.6% during the 3rd quarter. Massachusetts Wealth Management now owns 2,560 shares of the company’s stock worth $2,268,000 after purchasing an additional 345 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 10,808 shares of the company’s stock worth $9,575,000 after purchasing an additional 72 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Eli Lilly and Company by 8.3% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 676 shares of the company’s stock worth $599,000 after purchasing an additional 52 shares during the last quarter. Finally, Hudock Inc. increased its holdings in Eli Lilly and Company by 0.8% during the 3rd quarter. Hudock Inc. now owns 2,797 shares of the company’s stock worth $2,478,000 after purchasing an additional 23 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.2 %

NYSE:LLY opened at $892.70 on Friday. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The firm has a market capitalization of $848.45 billion, a P/E ratio of 109.94, a P/E/G ratio of 3.24 and a beta of 0.42. 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 business has a 50 day simple moving average of $919.74 and a 200 day simple moving average of $862.48.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) 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 company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts predict that Eli Lilly and Company will post 14.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price objective on the stock. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,013.41.

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.