Lazari Capital Management Inc. Buys 177 Shares of Eli Lilly and Company (NYSE:LLY)

Lazari Capital Management Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 59.0% during the second quarter, HoldingsChannel.com reports. The firm owned 477 shares of the company’s stock after purchasing an additional 177 shares during the quarter. Lazari Capital Management Inc.’s holdings in Eli Lilly and Company were worth $432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in LLY. Twelve Points Wealth Management LLC increased its position in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC increased its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in Eli Lilly and Company by 2.2% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares during the period. Acorn Creek Capital LLC lifted its holdings in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after purchasing an additional 12 shares in the last quarter. Finally, Thompson Davis & CO. Inc. lifted its holdings in Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 93,593 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $918.64, for a total value of $85,978,273.52. Following the sale, the insider now owns 97,153,810 shares of the company’s stock, valued at $89,249,376,018.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 355,962 shares of company stock valued at $331,267,535 over the last three months. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Down 0.2 %

Shares of NYSE:LLY opened at $884.55 on Wednesday. The company has a market cap of $840.68 billion, a price-to-earnings ratio of 130.27, a PEG 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 current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average price of $896.62 and a 200 day moving average price of $845.90.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of 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. Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Berenberg Bank boosted their price target on 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. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $977.35.

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.