Longview Financial Advisors Inc. Lowers Position in Eli Lilly and Company (NYSE:LLY)

Longview Financial Advisors Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,598 shares of the company’s stock after selling 40 shares during the quarter. Eli Lilly and Company comprises about 1.0% of Longview Financial Advisors Inc.’s holdings, making the stock its 19th largest position. Longview Financial Advisors Inc.’s holdings in Eli Lilly and Company were worth $1,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC purchased a new stake in Eli Lilly and Company in the first quarter worth approximately $40,000. Morton Brown Family Wealth LLC grew its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC grew its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after acquiring an additional 16 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $917.97 on Monday. The company has a 50-day simple moving average of $921.21 and a two-hundred day simple moving average of $858.60. 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 has a market capitalization of $872.44 billion, a PE ratio of 135.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a one year low of $547.61 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates 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, analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Citigroup began coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target for the company. Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Berenberg Bank boosted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

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.