Heritage Oak Wealth Advisors LLC Takes Position in Eli Lilly and Company (NYSE:LLY)

Heritage Oak Wealth Advisors LLC acquired a new position in Eli Lilly and Company (NYSE:LLY) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 410 shares of the company’s stock, valued at approximately $371,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Planning LLC purchased a new stake in Eli Lilly and Company in the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in Eli Lilly and Company in the first quarter worth about $6,916,000. M&G Plc purchased a new stake in Eli Lilly and Company in the first quarter worth about $8,896,000. HighPoint Advisor Group LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $9,878,000. Finally, Leo Wealth LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $3,355,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Bank of America boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley reiterated 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. Finally, Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $885.56 on Tuesday. 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 cap of $841.64 billion, a P/E ratio of 130.42, a P/E/G ratio of 2.78 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average price is $896.50 and its 200 day moving average price is $844.99.

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 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. On average, sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insider Activity

In related 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 value of $47,927,061.42. Following the completion of the transaction, the insider now directly owns 97,247,403 shares of the company’s stock, valued at approximately $88,998,878,277.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 364,810 shares of company stock worth $339,366,198 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.