Rockland Trust Co. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Rockland Trust Co. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,418 shares of the company’s stock after selling 173 shares during the quarter. Rockland Trust Co.’s holdings in Eli Lilly and Company were worth $10,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twelve Points Wealth Management LLC increased its position 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 holdings in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares during the period. Acorn Creek Capital LLC grew its position 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 buying an additional 12 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.7 %

LLY opened at $885.15 on Friday. Eli Lilly and Company has a 12 month low of $523.63 and a 12 month high of $972.53. The business has a 50-day moving average of $898.50 and a two-hundred day moving average of $846.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a market capitalization 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.

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

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Bank of America upped their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. 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 target price for the company. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Barclays increased their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $977.35.

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.