Financial Management Network Inc. Sells 95 Shares of Eli Lilly and Company (NYSE:LLY)

Financial Management Network Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,449 shares of the company’s stock after selling 95 shares during the period. Financial Management Network Inc.’s holdings in Eli Lilly and Company were worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullinan Associates Inc. raised its position in Eli Lilly and Company by 0.9% in the 3rd quarter. Cullinan Associates Inc. now owns 9,366 shares of the company’s stock worth $8,503,000 after purchasing an additional 83 shares during the last quarter. Blackston Financial Advisory Group LLC increased its stake in shares of Eli Lilly and Company by 63.2% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 439 shares of the company’s stock valued at $389,000 after buying an additional 170 shares during the period. Ballentine Partners LLC raised its position in shares of Eli Lilly and Company by 3.7% during the third quarter. Ballentine Partners LLC now owns 16,981 shares of the company’s stock worth $15,044,000 after acquiring an additional 601 shares during the last quarter. Heritage Oak Wealth Advisors LLC lifted its stake in shares of Eli Lilly and Company by 109.8% during the third quarter. Heritage Oak Wealth Advisors LLC now owns 860 shares of the company’s stock valued at $762,000 after acquiring an additional 450 shares during the period. Finally, Busey Bank boosted its holdings in Eli Lilly and Company by 1.2% in the third quarter. Busey Bank now owns 23,331 shares of the company’s stock valued at $20,670,000 after acquiring an additional 269 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Price Performance

Shares of LLY opened at $892.70 on Friday. The stock has a 50 day simple moving average of $919.74 and a 200 day simple moving average of $862.48. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $848.45 billion, a PE ratio of 109.94, a P/E/G ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Sell-side analysts predict that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Eli Lilly and 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.