Hartford Investment Management Co. Sells 1,496 Shares of Eli Lilly and Company (NYSE:LLY)

Hartford Investment Management Co. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 2.9% during the 3rd quarter, Holdings Channel reports. The fund owned 49,650 shares of the company’s stock after selling 1,496 shares during the period. Eli Lilly and Company makes up about 1.4% of Hartford Investment Management Co.’s investment portfolio, making the stock its 11th largest position. Hartford Investment Management Co.’s holdings in Eli Lilly and Company were worth $43,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LLY. Sovereign Financial Group Inc. grew its holdings in shares of Eli Lilly and Company by 9.6% during the 1st quarter. Sovereign Financial Group Inc. now owns 671 shares of the company’s stock worth $522,000 after purchasing an additional 59 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Eli Lilly and Company by 37.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 8,834 shares of the company’s stock worth $6,873,000 after purchasing an additional 2,400 shares during the period. Sandbox Financial Partners LLC grew its stake in Eli Lilly and Company by 54.8% during the first quarter. Sandbox Financial Partners LLC now owns 3,427 shares of the company’s stock worth $2,666,000 after buying an additional 1,213 shares in the last quarter. Signet Financial Management LLC increased its holdings in Eli Lilly and Company by 1.6% in the 1st quarter. Signet Financial Management LLC now owns 10,635 shares of the company’s stock valued at $8,274,000 after buying an additional 168 shares during the period. Finally, Janiczek Wealth Management LLC raised its position in shares of Eli Lilly and Company by 10.9% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,267 shares of the company’s stock valued at $986,000 after buying an additional 125 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LLY. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Guggenheim raised their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a report on Thursday, October 17th. They set an “outperform” rating and a $1,100.00 price target for the company. Bank of America raised 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, BMO Capital Markets lifted their target price on 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.24.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $902.96 on Thursday. The company has a market capitalization of $858.18 billion, a price-to-earnings ratio of 132.98, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The stock has a fifty day simple moving average of $921.12 and a 200 day simple moving average of $860.74. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The company 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%. Sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

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.