Prio Wealth Limited Partnership Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Prio Wealth Limited Partnership reduced its position in Eli Lilly and Company (NYSE:LLY) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,400 shares of the company’s stock after selling 347 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Eli Lilly and Company were worth $2,173,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $36,000. Morton Brown Family Wealth LLC raised its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Core Wealth Advisors Inc. raised its stake in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $45,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $884.55 on Wednesday. The business has a 50-day moving average of $896.62 and a 200 day moving average of $845.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a market capitalization of $840.68 billion, a price-to-earnings ratio of 130.27, a price-to-earnings-growth 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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. The business 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, sell-side analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 93,593 shares of Eli Lilly and Company stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $918.64, for a total value of $85,978,273.52. Following the completion of the transaction, the insider now owns 97,153,810 shares in the company, valued at approximately $89,249,376,018.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 355,962 shares of company stock worth $331,267,535. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Berenberg Bank raised their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets raised their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.