Alpha Cubed Investments LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Alpha Cubed Investments LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,962 shares of the company’s stock after purchasing an additional 865 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Eli Lilly and Company were worth $13,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Redmont Wealth Advisors LLC purchased a new position in shares of Eli Lilly and Company during the first quarter worth approximately $40,000. Morton Brown Family Wealth LLC raised its stake in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.3 %

Shares of LLY opened at $898.40 on Tuesday. 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 company has a 50 day simple moving average of $900.13 and a two-hundred day simple moving average of $848.40. The firm has a market cap of $853.84 billion, a P/E ratio of 132.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

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 analysts’ consensus estimates 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 business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Barclays upped 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 research note on Wednesday, July 10th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction 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 approximately $91,109,731,514.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and 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.