Eli Lilly and Company (NYSE:LLY) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,762 shares of the company’s stock after selling 128 shares during the quarter. Eli Lilly and Company comprises 1.7% of Cullen Investment Group LTD.’s portfolio, making the stock its 11th biggest position. Cullen Investment Group LTD.’s holdings in Eli Lilly and Company were worth $11,306,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% during the 2nd 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 last quarter. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% during the 4th 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 last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Eli Lilly and Company during the 2nd quarter worth approximately $45,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Barclays lifted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 93,593 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $918.64, for a total transaction of $85,978,273.52. Following the transaction, the insider now owns 97,153,810 shares of the company’s stock, valued at approximately $89,249,376,018.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY traded up $1.61 on Friday, hitting $887.16. 1,971,436 shares of the company’s stock were exchanged, compared to its average volume of 3,031,093. Eli Lilly and Company has a fifty-two week low of $531.61 and a fifty-two week high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $900.13 and a 200-day moving average price of $847.35. The stock has a market cap of $843.16 billion, a price-to-earnings ratio of 130.66, a P/E/G ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company 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.