William B. Walkup & Associates Inc. Takes Position in Eli Lilly and Company (NYSE:LLY)

William B. Walkup & Associates Inc. purchased a new position in Eli Lilly and Company (NYSE:LLY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,335 shares of the company’s stock, valued at approximately $2,114,000. Eli Lilly and Company comprises approximately 1.4% of William B. Walkup & Associates Inc.’s holdings, making the stock its 23rd largest position.

A number of other institutional investors have also recently bought and sold shares of the stock. Granite FO LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $1,132,000. Northwestern Mutual Wealth Management Co. increased its stake in Eli Lilly and Company by 4.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 154,106 shares of the company’s stock worth $139,530,000 after buying an additional 7,183 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Eli Lilly and Company by 15.3% in the second quarter. NewEdge Advisors LLC now owns 123,167 shares of the company’s stock worth $111,513,000 after acquiring an additional 16,334 shares in the last quarter. Northeast Financial Consultants Inc raised its position in shares of Eli Lilly and Company by 0.6% in the 2nd quarter. Northeast Financial Consultants Inc now owns 9,835 shares of the company’s stock valued at $8,905,000 after purchasing an additional 56 shares in the last quarter. Finally, Nemes Rush Group LLC grew its holdings in Eli Lilly and Company by 2.4% during the 2nd quarter. Nemes Rush Group LLC now owns 13,698 shares of the company’s stock worth $12,401,000 after acquiring an additional 326 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $915.18, for a total transaction of $47,927,061.42. Following the sale, the insider now owns 97,247,403 shares in the company, valued at $88,998,878,277.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 364,810 shares of company stock worth $339,366,198 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

NYSE LLY opened at $877.79 on Monday. 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 has a twelve month low of $516.57 and a twelve month high of $972.53. The stock has a 50-day simple moving average of $896.10 and a 200 day simple moving average of $844.12. The stock has a market capitalization 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 (NYSE:LLY) last announced its quarterly earnings data 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 return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Berenberg Bank upped 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 research report on Wednesday, August 14th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. 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 research report on Friday, September 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three 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 stock has an average rating of “Moderate Buy” and an average price target 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.