Wealthquest Corp Sells 75 Shares of Eli Lilly and Company (NYSE:LLY)

Wealthquest Corp cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,191 shares of the company’s stock after selling 75 shares during the quarter. Eli Lilly and Company accounts for about 0.6% of Wealthquest Corp’s portfolio, making the stock its 23rd largest position. Wealthquest Corp’s holdings in Eli Lilly and Company were worth $4,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Aldebaran Financial Inc. lifted its holdings in Eli Lilly and Company by 17.9% during the 2nd quarter. Aldebaran Financial Inc. now owns 723 shares of the company’s stock worth $655,000 after buying an additional 110 shares during the period. Cetera Investment Advisers raised its stake in Eli Lilly and Company by 0.3% during the second quarter. Cetera Investment Advisers now owns 224,922 shares of the company’s stock worth $203,641,000 after buying an additional 603 shares during the last quarter. 3Chopt Investment Partners LLC boosted its position in Eli Lilly and Company by 14.8% during the second quarter. 3Chopt Investment Partners LLC now owns 3,746 shares of the company’s stock valued at $3,392,000 after acquiring an additional 483 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $323,000. Finally, Ted Buchan & Co acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $1,780,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated 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 sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 364,810 shares of company stock valued at $339,366,198 over the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note 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 research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their target price for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $885.56 on Tuesday. The stock has a 50 day moving average of $896.50 and a two-hundred day moving average of $844.99. 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 firm has a market cap of $841.64 billion, a P/E ratio of 130.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 67.52% and a net margin of 18.86%. On average, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

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.