Harvey Investment Co. LLC Sells 470 Shares of Eli Lilly and Company (NYSE:LLY)

Harvey Investment Co. LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,165 shares of the company’s stock after selling 470 shares during the quarter. Eli Lilly and Company comprises 1.1% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 26th largest position. Harvey Investment Co. LLC’s holdings in Eli Lilly and Company were worth $9,892,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 87,091.7% in the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after buying an additional 12,448,888 shares in the last quarter. Swedbank AB bought a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the period. Finally, GQG Partners LLC boosted its position 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 purchasing an additional 648,094 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 1.3 %

Shares of LLY stock opened at $891.66 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The stock has a market capitalization of $847.44 billion, a P/E ratio of 131.32, a P/E/G ratio of 2.79 and a beta of 0.42. The firm’s 50 day moving average is $921.12 and its 200 day moving average is $860.74.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm 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%. Research analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Finally, Truist Financial boosted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.24.

Eli Lilly and 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.