NewEdge Advisors LLC Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

NewEdge Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 15.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,167 shares of the company’s stock after buying an additional 16,334 shares during the period. Eli Lilly and Company accounts for 0.8% of NewEdge Advisors LLC’s portfolio, making the stock its 13th biggest holding. NewEdge Advisors LLC’s holdings in Eli Lilly and Company were worth $111,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LLY. Capital Planning LLC bought a new stake in Eli Lilly and Company during the first quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company during the 1st quarter valued at approximately $6,916,000. M&G Plc purchased a new position in Eli Lilly and Company in the 1st quarter worth approximately $8,896,000. HighPoint Advisor Group LLC bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $9,878,000. Finally, Leo Wealth LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $3,355,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the sale, the insider now directly owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 423,559 shares of company stock valued at $393,136,808. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $877.79 on Friday. The stock has a market cap of $834.26 billion, a PE ratio of 129.28, a P/E/G ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a 50-day moving average price of $896.10 and a 200 day moving average price of $843.52. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

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, beating 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 business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LLY shares. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Citigroup began coverage on Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $977.35.

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.