Burns J W & Co. Inc. NY Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Burns J W & Co. Inc. NY lowered its position in Eli Lilly and Company (NYSE:LLY) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,475 shares of the company’s stock after selling 226 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Eli Lilly and Company were worth $3,079,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Eli Lilly and Company during the first quarter valued at $932,797,000. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. boosted its stake in shares of Eli Lilly and Company by 90,438.0% during 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 boosted its stake in shares of Eli Lilly and Company by 20.2% during the first 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 last quarter. Finally, Comerica Bank boosted its stake in shares of Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Shares of NYSE:LLY traded up $1.61 during mid-day trading on Friday, hitting $887.16. 1,971,436 shares of the company traded hands, compared to its average volume of 3,031,093. The firm has a market cap of $843.16 billion, a P/E ratio of 130.66, a PEG 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. Eli Lilly and Company has a 52-week low of $531.61 and a 52-week high of $972.53. The firm’s 50 day simple moving average is $900.13 and its 200 day simple moving average is $847.35.

Eli Lilly and Company (NYSE:LLY) last announced 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%. On average, equities analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

Insider Activity at Eli Lilly and Company

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

Analyst Ratings Changes

A number of analysts recently commented on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Barclays raised their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

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.