Chronos Wealth Management LLC Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Chronos Wealth Management LLC decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,220 shares of the company’s stock after selling 352 shares during the quarter. Eli Lilly and Company comprises about 10.7% of Chronos Wealth Management LLC’s portfolio, making the stock its biggest holding. Chronos Wealth Management LLC’s holdings in Eli Lilly and Company were worth $20,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Wulff Hansen & CO. lifted its holdings in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the last quarter. GQG Partners LLC boosted its position in 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. Finally, Comerica Bank increased its holdings in shares of Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $917.97 on Friday. The business has a fifty day simple moving average of $921.21 and a 200 day simple moving average of $858.02. The company has a market cap of $872.44 billion, a P/E ratio of 135.19, a P/E/G ratio of 2.79 and a beta of 0.42. 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 has a twelve month low of $547.61 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. On average, sell-side analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised 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 report on Monday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday. They issued an “outperform” rating and a $1,100.00 target price for the company. Finally, Barclays raised their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $986.00.

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.