Eli Lilly and Company (NYSE:LLY) Position Reduced by LVW Advisors LLC

LVW Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,299 shares of the company’s stock after selling 94 shares during the quarter. LVW Advisors LLC’s holdings in Eli Lilly and Company were worth $2,923,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital Research Global Investors boosted its position in Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after acquiring an additional 453,939 shares during the period. Capital International Investors increased 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 valued at $5,424,243,000 after purchasing an additional 335,560 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock valued at $2,647,675,000 after purchasing an additional 85,015 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Barclays upped their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Guggenheim upped their price target on shares of 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. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $979.29.

Eli Lilly and Company Stock Performance

LLY stock traded up $10.98 during mid-day trading on Friday, reaching $921.67. 756,332 shares of the stock traded hands, compared to its average volume of 3,001,753. The firm has a market capitalization of $875.98 billion, a PE ratio of 113.34, a P/E/G ratio of 2.79 and a beta of 0.42. The business has a 50-day moving average of $908.28 and a two-hundred day moving average of $851.21. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts predict that Eli Lilly and Company will post 16.49 EPS 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.