Thrive Wealth Management LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Thrive Wealth Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,506 shares of the company’s stock after selling 22 shares during the quarter. Thrive Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LLY. Core Wealth Advisors Inc. raised its position 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 worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at $36,000. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the 1st quarter valued at about $40,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $0.74 during trading hours on Friday, reaching $886.29. 1,970,671 shares of the company traded hands, compared to its average volume of 3,031,093. The stock has a market capitalization of $842.33 billion, a P/E ratio of 130.53, 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 has a fifty day moving average price of $900.13 and a 200-day moving average price of $847.35. Eli Lilly and Company has a 12-month low of $531.61 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, topping the consensus estimate 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%. Equities analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America upped 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 research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wells Fargo & Company raised their target price 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. Finally, BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target 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.