Eastern Bank Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Eastern Bank increased its position in Eli Lilly and Company (NYSE:LLY) by 145.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,057 shares of the company’s stock after purchasing an additional 53,426 shares during the quarter. Eli Lilly and Company accounts for 1.4% of Eastern Bank’s portfolio, making the stock its 16th largest position. Eastern Bank’s holdings in Eli Lilly and Company were worth $79,786,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LLY. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Redmont Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 1st quarter worth approximately $40,000. Morton Brown Family Wealth LLC raised its position in shares of 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 in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after buying an additional 16 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE LLY opened at $909.15 on Wednesday. The company has a 50-day moving average price of $921.67 and a two-hundred day moving average price of $860.45. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53. The stock has a market cap of $864.06 billion, a price-to-earnings ratio of 133.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Analysts forecast that Eli Lilly and Company will post 16.49 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Berenberg Bank lifted 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 research note on Wednesday, August 14th. Bank of America upped their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,002.24.

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.