Adirondack Trust Co. Boosts Position in Eli Lilly and Company (NYSE:LLY)

Adirondack Trust Co. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,682 shares of the company’s stock after acquiring an additional 95 shares during the period. Eli Lilly and Company comprises 1.6% of Adirondack Trust Co.’s holdings, making the stock its 12th biggest position. Adirondack Trust Co.’s holdings in Eli Lilly and Company were worth $4,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LLY. Wedmont Private Capital grew its position in Eli Lilly and Company by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 13,002 shares of the company’s stock worth $11,681,000 after purchasing an additional 592 shares during the period. Marcum Wealth LLC grew its stake in shares of Eli Lilly and Company by 8.5% during the 3rd quarter. Marcum Wealth LLC now owns 3,144 shares of the company’s stock worth $2,785,000 after purchasing an additional 247 shares during the period. Abner Herrman & Brock LLC boosted its holdings in Eli Lilly and Company by 0.4% during the third quarter. Abner Herrman & Brock LLC now owns 26,508 shares of the company’s stock worth $23,484,000 after buying an additional 103 shares in the last quarter. CWM LLC grew its position in Eli Lilly and Company by 3.3% during the third quarter. CWM LLC now owns 75,089 shares of the company’s stock valued at $66,524,000 after buying an additional 2,389 shares during the period. Finally, West Financial Advisors LLC purchased a new position in Eli Lilly and Company in the third quarter valued at $58,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.7 %

Shares of Eli Lilly and Company stock opened at $919.91 on Thursday. The stock has a 50 day moving average of $904.41 and a 200 day moving average of $850.31. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $874.29 billion, a price-to-earnings ratio of 135.48, a PEG ratio of 2.78 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its 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. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. As a group, research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup started coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price target for the company. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.