Canandaigua National Bank & Trust Co. Grows Position in Eli Lilly and Company (NYSE:LLY)

Canandaigua National Bank & Trust Co. grew its stake in Eli Lilly and Company (NYSE:LLY) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,332 shares of the company’s stock after acquiring an additional 1,620 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $7,382,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LLY. Core Wealth Advisors Inc. lifted its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $36,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.7 %

Shares of Eli Lilly and Company stock opened at $885.15 on Friday. Eli Lilly and Company has a twelve month low of $523.63 and a twelve month high of $972.53. The stock has a market cap of $841.25 billion, a price-to-earnings ratio of 130.36, a price-to-earnings-growth ratio of 2.78 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. The company has a fifty day moving average price of $898.50 and a 200 day moving average price of $846.49.

Eli Lilly and Company (NYSE:LLY) last posted its 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 business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Equities research analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LLY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a report on Thursday. 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. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

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.