Eli Lilly and Company (NYSE:LLY) Position Decreased by Summit Asset Management LLC

Summit Asset Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,357 shares of the company’s stock after selling 42 shares during the period. Summit Asset Management LLC’s holdings in Eli Lilly and Company were worth $791,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in Eli Lilly and Company by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 4,544,585 shares of the company’s stock worth $2,649,130,000 after buying an additional 87,511 shares during the period. LGT Fund Management Co Ltd. lifted its position in shares of Eli Lilly and Company by 4.4% in the 4th quarter. LGT Fund Management Co Ltd. now owns 9,520 shares of the company’s stock valued at $5,530,000 after acquiring an additional 400 shares in the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $1,298,000. Robertson Stephens Wealth Management LLC boosted its stake in Eli Lilly and Company by 30.6% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,145 shares of the company’s stock worth $2,416,000 after purchasing an additional 971 shares during the period. Finally, McIlrath & Eck LLC grew its position in Eli Lilly and Company by 16.5% during the 4th quarter. McIlrath & Eck LLC now owns 465 shares of the company’s stock worth $271,000 after purchasing an additional 66 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LLY has been the topic of a number of research reports. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America lifted their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Morgan Stanley upped their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. DZ Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $757.95.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $18.26 on Thursday, reaching $758.49. The stock had a trading volume of 1,584,206 shares, compared to its average volume of 3,049,690. The company has a market capitalization of $720.69 billion, a P/E ratio of 111.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37. The stock has a fifty day moving average price of $762.03 and a 200-day moving average price of $669.96. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a 1-year low of $414.31 and a 1-year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 59.28% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same period in the prior year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 13.5 EPS for the current 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.