Eli Lilly and Company (NYSE:LLY) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260 shares of the company’s stock after selling 25 shares during the period. Lafayette Investments Inc.’s holdings in Eli Lilly and Company were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LLY. M&G Plc acquired a new stake in Eli Lilly and Company in the first quarter valued at $8,896,000. Virtu Financial LLC acquired a new stake in Eli Lilly and Company in the first quarter valued at $2,138,000. China Universal Asset Management Co. Ltd. raised its stake in Eli Lilly and Company by 19.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock valued at $7,699,000 after buying an additional 1,620 shares in the last quarter. Mutual Advisors LLC raised its stake in Eli Lilly and Company by 404.8% in the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock valued at $48,699,000 after buying an additional 50,197 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Eli Lilly and Company by 0.6% in the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock valued at $59,345,000 after buying an additional 430 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Sanford C. Bernstein initiated coverage on Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Truist Financial lifted 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 research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.24.

Eli Lilly and Company Price Performance

Shares of LLY opened at $891.66 on Friday. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The stock’s 50 day moving average is $921.12 and its two-hundred day moving average is $860.74. The firm has a market capitalization of $847.44 billion, a PE ratio of 131.32, a P/E/G ratio of 2.79 and a beta of 0.42. 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 (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share 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.