Gateway Advisory LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Gateway Advisory LLC lifted its stake in Eli Lilly and Company (NYSE:LLY) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,262 shares of the company’s stock after purchasing an additional 47 shares during the period. Gateway Advisory LLC’s holdings in Eli Lilly and Company were worth $1,143,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the second quarter worth $36,000. Morton Brown Family Wealth LLC lifted its position in 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 valued at $41,000 after buying an additional 15 shares during the period. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth approximately $45,000. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Bank of America upped their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 16th. Citigroup started coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Price Performance

NYSE LLY opened at $919.36 on Tuesday. The company has a 50-day moving average price of $894.44 and a 200-day moving average price of $839.71. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $873.76 billion, a P/E ratio of 135.40, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 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 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%. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 425,000 shares of company stock valued at $394,455,351. 0.13% of the stock is owned by company insiders.

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.