Dock Street Asset Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Dock Street Asset Management Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 5.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,118 shares of the company’s stock after selling 60 shares during the period. Dock Street Asset Management Inc.’s holdings in Eli Lilly and Company were worth $990,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. grew its position in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Wulff Hansen & CO. grew its position in Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after purchasing an additional 936,033 shares during the period. GQG Partners LLC grew its position in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares during the period. Finally, Comerica Bank grew its position in shares of Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.3 %

Shares of NYSE LLY opened at $909.15 on Wednesday. The firm’s 50-day moving average price is $921.67 and its 200-day moving average price is $860.45. 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 stock has a market capitalization of $864.06 billion, a price-to-earnings ratio of 133.90, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53.

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 the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LLY. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. BMO Capital Markets boosted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

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.