Ritholtz Wealth Management Sells 1,867 Shares of Eli Lilly and Company (NYSE:LLY)

Ritholtz Wealth Management cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,206 shares of the company’s stock after selling 1,867 shares during the period. Eli Lilly and Company comprises approximately 0.6% of Ritholtz Wealth Management’s holdings, making the stock its 26th largest holding. Ritholtz Wealth Management’s holdings in Eli Lilly and Company were worth $18,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company during the 2nd quarter valued at about $36,000. Redmont Wealth Advisors LLC bought a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $40,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group boosted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $979.29.

Eli Lilly and Company Stock Up 2.3 %

LLY traded up $21.37 during trading hours on Friday, hitting $932.06. 2,293,874 shares of the company’s stock were exchanged, compared to its average volume of 3,009,544. 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 1-year low of $547.61 and a 1-year high of $972.53. The stock’s 50-day moving average is $910.84 and its two-hundred day moving average is $852.32. The stock has a market cap of $885.83 billion, a price-to-earnings ratio of 137.27, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Sell-side analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

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.