Harmony Asset Management LLC Purchases 203 Shares of Eli Lilly and Company (NYSE:LLY)

Harmony Asset Management LLC boosted its position in Eli Lilly and Company (NYSE:LLY) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,595 shares of the company’s stock after purchasing an additional 203 shares during the period. Eli Lilly and Company comprises approximately 2.1% of Harmony Asset Management LLC’s holdings, making the stock its 9th largest position. Harmony Asset Management LLC’s holdings in Eli Lilly and Company were worth $5,066,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Planning LLC purchased a new stake in Eli Lilly and Company during the first quarter worth about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $6,916,000. M&G Plc acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $8,896,000. IPG Investment Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $351,000. Finally, HighPoint Advisor Group LLC purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $9,878,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $921.49 on Monday. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company’s 50 day simple moving average is $895.06 and its 200 day simple moving average is $838.73. The stock has a market capitalization of $875.79 billion, a PE ratio of 135.71, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

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. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $915.26, for a total value of $53,770,609.74. Following the transaction, the insider now directly owns 97,308,620 shares of the company’s stock, valued at approximately $89,062,687,541.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 425,000 shares of company stock worth $394,455,351 over the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LLY. Jefferies Financial Group upped their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Berenberg Bank lifted 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 report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

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.