Eli Lilly and Company (NYSE:LLY) is Schmidt P J Investment Management Inc.’s 8th Largest Position

Schmidt P J Investment Management Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,143 shares of the company’s stock after selling 60 shares during the quarter. Eli Lilly and Company accounts for 2.9% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 8th largest position. Schmidt P J Investment Management Inc.’s holdings in Eli Lilly and Company were worth $16,960,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter valued at about $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter valued at about $40,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Barclays lifted 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 report on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Bank of America raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets raised their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Trading Up 0.1 %

Shares of LLY opened at $892.51 on Friday. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The stock has a market cap of $848.27 billion, a PE ratio of 109.92, a price-to-earnings-growth ratio of 3.24 and a beta of 0.42. The firm’s fifty day moving average is $920.32 and its two-hundred day moving average is $860.96. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $9.83 billion. Research analysts forecast that Eli Lilly and Company will post 14.05 earnings per share for the current fiscal 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.