AlTi Global Inc. Sells 3,745 Shares of Eli Lilly and Company (NYSE:LLY)

AlTi Global Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 51.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,466 shares of the company’s stock after selling 3,745 shares during the period. AlTi Global Inc.’s holdings in Eli Lilly and Company were worth $3,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Core Wealth Advisors Inc. increased its holdings in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $36,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $40,000. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 58,749 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the completion of the transaction, the insider now owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 425,000 shares of company stock valued at $394,455,351 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

Shares of NYSE:LLY opened at $924.89 on Wednesday. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market capitalization of $879.04 billion, a P/E ratio of 136.21, a P/E/G ratio of 2.78 and a beta of 0.42. The stock has a 50 day moving average price of $894.11 and a 200-day moving average price of $840.86. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. As a group, equities research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LLY has been the topic of several analyst reports. Bank of America lifted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their target price for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price 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. 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 research report on Friday, August 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

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.