Hennion & Walsh Asset Management Inc. Sells 5,432 Shares of Eli Lilly and Company (NYSE:LLY)

Hennion & Walsh Asset Management Inc. decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 27.3% during the third quarter, HoldingsChannel.com reports. The firm owned 14,467 shares of the company’s stock after selling 5,432 shares during the quarter. Eli Lilly and Company makes up about 0.6% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 25th biggest holding. Hennion & Walsh Asset Management Inc.’s holdings in Eli Lilly and Company were worth $12,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. Twelve Points Wealth Management LLC increased its stake in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares during the period. Verum Partners LLC boosted its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the period. Beaird Harris Wealth Management LLC grew its stake in Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares in the last quarter. Summit Financial Strategies Inc. increased its position in shares of Eli Lilly and Company by 0.5% during the third quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after acquiring an additional 11 shares during the period. Finally, Prio Wealth Limited Partnership raised its stake in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock valued at $2,136,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $891.66 on Friday. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53. 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 firm has a market capitalization of $847.44 billion, a price-to-earnings ratio of 131.32, a PEG ratio of 2.79 and a beta of 0.42. The stock’s 50-day simple moving average is $921.12 and its 200-day simple moving average is $860.74.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on LLY. Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Barclays raised their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein assumed coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.