Eli Lilly and Company (NYSE:LLY) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 11.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 38,230 shares of the company’s stock after selling 4,848 shares during the quarter. Eli Lilly and Company makes up about 0.9% of B. Riley Wealth Advisors Inc.’s portfolio, making the stock its 12th biggest holding. B. Riley Wealth Advisors Inc.’s holdings in Eli Lilly and Company were worth $34,612,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company in the second quarter worth about $36,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the period. Core Wealth Advisors Inc. boosted 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 worth $29,000 after buying an additional 32 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company in the second quarter worth about $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LLY shares. Guggenheim raised their price target on shares of 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. Citigroup started coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. BMO Capital Markets raised their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Down 3.5 %

Shares of NYSE:LLY opened at $877.79 on Monday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 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 company’s fifty day moving average is $896.10 and its 200-day moving average is $844.12. The company has a market capitalization of $834.26 billion, a PE ratio of 129.28, a P/E/G ratio of 2.78 and a beta of 0.42.

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, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $915.18, for a total transaction of $47,927,061.42. Following the transaction, the insider now owns 97,247,403 shares of the company’s stock, valued at $88,998,878,277.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 364,810 shares of company stock worth $339,366,198. Corporate insiders own 0.13% of the company’s stock.

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.