Index Fund Advisors Inc. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Index Fund Advisors Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 690 shares of the company’s stock after selling 27 shares during the quarter. Index Fund Advisors Inc.’s holdings in Eli Lilly and Company were worth $611,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Grimes & Company Inc. increased its stake in shares of Eli Lilly and Company by 8.7% during the third quarter. Grimes & Company Inc. now owns 4,073 shares of the company’s stock valued at $3,608,000 after buying an additional 326 shares during the period. PSI Advisors LLC increased its stake in shares of Eli Lilly and Company by 0.4% during the third quarter. PSI Advisors LLC now owns 2,908 shares of the company’s stock valued at $2,576,000 after buying an additional 13 shares during the period. CENTRAL TRUST Co increased its stake in shares of Eli Lilly and Company by 1.9% during the third quarter. CENTRAL TRUST Co now owns 45,304 shares of the company’s stock valued at $40,137,000 after buying an additional 858 shares during the period. Global Assets Advisory LLC increased its stake in shares of Eli Lilly and Company by 296.0% during the third quarter. Global Assets Advisory LLC now owns 2,285 shares of the company’s stock valued at $2,021,000 after buying an additional 1,708 shares during the period. Finally, JCIC Asset Management Inc. increased its stake in shares of Eli Lilly and Company by 1.0% during the third quarter. JCIC Asset Management Inc. now owns 4,216 shares of the company’s stock valued at $3,735,000 after buying an additional 42 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of several research reports. Berenberg Bank lifted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Guggenheim lifted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.24.

Eli Lilly and Company Trading Down 1.3 %

Shares of NYSE:LLY opened at $891.66 on Friday. The company has a market cap of $847.44 billion, a P/E ratio of 131.32, a PEG ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53. The stock’s fifty day moving average price is $921.12 and its 200-day moving average price is $860.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company 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.