Abacus Wealth Partners LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Abacus Wealth Partners LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 11.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 615 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $545,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $36,000. Morton Brown Family Wealth LLC grew its holdings in shares of 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. grew its holdings in shares of 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 acquired a new stake in Eli Lilly and Company during the second quarter valued at $45,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LLY. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Barclays boosted their target price on 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. Wells Fargo & Company boosted their target price on 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a research note on Thursday. 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.7 %

LLY stock opened at $885.15 on Friday. 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 market capitalization of $841.25 billion, a price-to-earnings ratio of 130.36, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The business’s 50 day moving average price is $898.50 and its two-hundred day moving average price is $846.49. Eli Lilly and Company has a fifty-two week low of $523.63 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 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The business 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%. As a group, 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.