Clearbridge Investments LLC Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Clearbridge Investments LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,131,967 shares of the company’s stock after selling 914 shares during the period. Eli Lilly and Company comprises approximately 0.8% of Clearbridge Investments LLC’s holdings, making the stock its 18th largest position. Clearbridge Investments LLC’s holdings in Eli Lilly and Company were worth $1,024,860,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its holdings in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Core Wealth Advisors Inc. raised its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company in the 2nd quarter worth approximately $45,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LLY. Berenberg Bank boosted their price objective on shares of 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. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Barclays lifted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 52,369 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $915.18, for a total value of $47,927,061.42. Following the sale, the insider now 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 SEC, which can be accessed through the SEC website. Insiders have sold a total of 364,810 shares of company stock worth $339,366,198 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Up 0.9 %

Shares of Eli Lilly and Company stock opened at $885.56 on Tuesday. The company has a market capitalization of $841.64 billion, a P/E ratio of 130.42, 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 quick ratio of 0.87 and a current ratio of 1.11. The company has a fifty day moving average of $896.50 and a 200 day moving average of $844.99. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, sell-side analysts anticipate 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.