Next Capital Management LLC Sells 46 Shares of Eli Lilly and Company (NYSE:LLY)

Next Capital Management LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,123 shares of the company’s stock after selling 46 shares during the period. Next Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $932,797,000. Vanguard Group Inc. raised its position in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Wulff Hansen & CO. boosted its stake in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares during the last quarter. GQG Partners LLC grew its position in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares during the period. Finally, Comerica Bank increased its stake in shares of Eli Lilly and Company by 71.6% during the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.5 %

Shares of LLY opened at $877.79 on Monday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The company has a market capitalization of $834.26 billion, a P/E ratio of 129.28, a P/E/G ratio of 2.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $896.10 and its 200 day simple moving average is $844.12.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Sell-side analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LLY has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Berenberg Bank increased 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. Barclays boosted their price objective on 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of the stock in a transaction dated 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 directly owns 97,247,403 shares in the company, valued at approximately $88,998,878,277.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 364,810 shares of company stock valued at $339,366,198 over the last 90 days. 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.