Eli Lilly and Company (NYSE:LLY) is Goelzer Investment Management Inc.’s Largest Position

Goelzer Investment Management Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 546,870 shares of the company’s stock after selling 21,459 shares during the quarter. Eli Lilly and Company makes up about 26.5% of Goelzer Investment Management Inc.’s holdings, making the stock its biggest position. Goelzer Investment Management Inc. owned about 0.06% of Eli Lilly and Company worth $484,494,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Core Wealth Advisors Inc. raised its position in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 2nd quarter worth $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $40,000. Finally, Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on LLY shares. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Bank of America raised their target price 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 report on Friday, August 9th. Morgan Stanley restated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Guggenheim lifted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, BMO Capital Markets boosted their price objective 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. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Shares of LLY traded up $1.61 during mid-day trading on Friday, reaching $887.16. 1,971,436 shares of the stock traded hands, compared to its average volume of 3,031,093. The stock has a fifty day simple moving average of $900.13 and a 200 day simple moving average of $847.35. Eli Lilly and Company has a 12-month low of $531.61 and a 12-month 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 cap of $843.16 billion, a price-to-earnings ratio of 130.66, a P/E/G ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (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 for the quarter, compared to the consensus estimate of $9.83 billion. Sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

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.