Eli Lilly and Company (NYSE:LLY) Shares Sold by Wallace Capital Management Inc.

Wallace Capital Management Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 16.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,030 shares of the company’s stock after selling 200 shares during the period. Wallace Capital Management Inc.’s holdings in Eli Lilly and Company were worth $933,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LLY. Twelve Points Wealth Management LLC grew its stake in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after acquiring an additional 11 shares during the period. Verum Partners LLC increased its position in shares of Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock valued at $464,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC lifted its holdings in Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after purchasing an additional 12 shares in the last quarter. Finally, Thompson Davis & CO. Inc. boosted its stake in Eli Lilly and Company by 0.7% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares of the company’s stock, valued at $89,059,454,309.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 364,810 shares of company stock valued at $339,366,198. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Guggenheim increased their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Citigroup initiated coverage on Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Finally, BMO Capital Markets boosted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $877.79 on Monday. 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 has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market cap of $834.26 billion, a PE ratio of 129.28, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The company’s 50 day moving average is $896.10 and its two-hundred day moving average is $844.12.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal 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.