Marietta Investment Partners LLC Has $7.38 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Marietta Investment Partners LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 73.0% during the second quarter, Holdings Channel reports. The firm owned 8,146 shares of the company’s stock after purchasing an additional 3,437 shares during the period. Eli Lilly and Company makes up approximately 1.6% of Marietta Investment Partners LLC’s portfolio, making the stock its 17th largest position. Marietta Investment Partners LLC’s holdings in Eli Lilly and Company were worth $7,375,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares in the last quarter. Lynx Investment Advisory bought a new stake in Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter worth $36,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the first quarter worth $40,000. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders sold 425,000 shares of company stock worth $394,455,351. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $921.49 on Monday. The stock has a market cap of $875.79 billion, a PE ratio of 135.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a fifty day moving average of $895.06 and a 200-day moving average of $838.73.

Eli Lilly and Company (NYSE:LLY) last announced 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%. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on LLY shares. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. 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 report on Wednesday, August 14th. Guggenheim lifted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, Evercore ISI raised 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 company’s stock. According to data from MarketBeat, the stock has an average 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.