Eli Lilly and Company (NYSE:LLY) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 36.3% in the third quarter, Holdings Channel reports. The fund owned 5,274 shares of the company’s stock after selling 2,999 shares during the period. Eli Lilly and Company accounts for about 3.0% of Argus Investors Counsel Inc.’s portfolio, making the stock its 4th biggest position. Argus Investors Counsel Inc.’s holdings in Eli Lilly and Company were worth $4,673,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CFM Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 72.1% during the 1st quarter. CFM Wealth Partners LLC now owns 7,840 shares of the company’s stock worth $6,099,000 after buying an additional 3,285 shares in the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 4.6% during the 1st quarter. Chemistry Wealth Management LLC now owns 550 shares of the company’s stock worth $428,000 after buying an additional 24 shares in the last quarter. CIC Wealth LLC raised its stake in shares of Eli Lilly and Company by 7.8% during the 1st quarter. CIC Wealth LLC now owns 3,134 shares of the company’s stock worth $2,438,000 after buying an additional 227 shares in the last quarter. Constitution Capital LLC raised its stake in shares of Eli Lilly and Company by 653.9% during the 1st quarter. Constitution Capital LLC now owns 3,355 shares of the company’s stock worth $2,610,000 after buying an additional 2,910 shares in the last quarter. Finally, Davis Investment Partners LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $636,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Citigroup assumed coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective for the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Bank of America raised their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial raised their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and Company Price Performance

LLY stock opened at $909.15 on Wednesday. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The stock’s fifty day simple moving average is $921.67 and its 200-day simple moving average is $860.45. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $864.06 billion, a price-to-earnings ratio of 133.90, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Equities research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

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.