Eli Lilly and Company (NYSE:LLY) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 14.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,834 shares of the company’s stock after selling 46,155 shares during the period. Eli Lilly and Company accounts for about 1.2% of Fred Alger Management LLC’s portfolio, making the stock its 14th largest holding. Fred Alger Management LLC’s holdings in Eli Lilly and Company were worth $251,545,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Twelve Points Wealth Management LLC lifted its holdings in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC lifted its stake in shares of Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the period. Acorn Creek Capital LLC boosted its position in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after acquiring an additional 12 shares during the period. Finally, O Brien Greene & Co. Inc raised its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock valued at $865,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 58,749 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the completion of the sale, the insider now owns 97,308,620 shares in the company, valued at $89,062,687,541.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 425,000 shares of company stock worth $394,455,351 over the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

LLY has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Citigroup started coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price on the stock. Berenberg Bank upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $924.89 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The firm’s 50-day simple moving average is $894.11 and its 200-day simple moving average is $840.86. The firm has a market cap of $879.04 billion, a PE ratio of 136.21, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate 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 forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

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.