Westwood Wealth Management Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Westwood Wealth Management lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 20.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,940 shares of the company’s stock after acquiring an additional 325 shares during the period. Eli Lilly and Company makes up 0.7% of Westwood Wealth Management’s investment portfolio, making the stock its 19th biggest position. Westwood Wealth Management’s holdings in Eli Lilly and Company were worth $1,756,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Twelve Points Wealth Management LLC grew its position in Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the period. Verum Partners LLC boosted its stake in shares of Eli Lilly and Company by 1.5% during the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after acquiring an additional 11 shares during the last quarter. Acorn Creek Capital LLC boosted its stake in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in shares of 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 valued at $1,527,000 after acquiring an additional 12 shares during the period. Finally, O Brien Greene & Co. Inc increased its stake in shares of Eli Lilly and Company by 1.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 955 shares of the company’s stock worth $865,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 58,749 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the sale, the insider now directly owns 97,308,620 shares in the company, valued at approximately $89,062,687,541.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 425,000 shares of company stock valued at $394,455,351 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $919.36 on Tuesday. The company has a market cap of $873.76 billion, a price-to-earnings ratio of 135.40, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The stock’s 50 day simple moving average is $894.44 and its two-hundred day simple moving average is $839.71. 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 (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion for 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%. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LLY. Jefferies Financial Group lifted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Finally, Morgan Stanley reiterated 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. Three investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $977.35.

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.