Enterprise Bank & Trust Co Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Enterprise Bank & Trust Co decreased its stake in Eli Lilly and Company (NYSE:LLY) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,675 shares of the company’s stock after selling 283 shares during the period. Eli Lilly and Company makes up 1.9% of Enterprise Bank & Trust Co’s portfolio, making the stock its 14th biggest position. Enterprise Bank & Trust Co’s holdings in Eli Lilly and Company were worth $5,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company during the second quarter worth about $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $40,000. Morton Brown Family Wealth LLC raised its stake in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of 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. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,025.00 price target on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Guggenheim increased their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $919.91 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business’s fifty day moving average price is $904.41 and its two-hundred day moving average price is $850.31. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53. The stock has a market capitalization of $874.29 billion, a price-to-earnings ratio of 135.48, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted 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 business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, analysts predict 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.