Essex Financial Services Inc. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Essex Financial Services Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,081 shares of the company’s stock after selling 281 shares during the period. Eli Lilly and Company accounts for 1.5% of Essex Financial Services Inc.’s holdings, making the stock its 11th biggest position. Essex Financial Services Inc.’s holdings in Eli Lilly and Company were worth $14,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JGP Wealth Management LLC raised its holdings in shares of Eli Lilly and Company by 0.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock worth $1,074,000 after purchasing an additional 16 shares during the last quarter. Patton Albertson Miller Group LLC grew its position in Eli Lilly and Company by 2.8% during the third quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock valued at $335,000 after buying an additional 17 shares during the period. Valley Wealth Managers Inc. grew its position in Eli Lilly and Company by 1.3% during the third quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock valued at $688,000 after buying an additional 17 shares during the period. Sandy Cove Advisors LLC grew its position in Eli Lilly and Company by 0.8% during the fourth quarter. Sandy Cove Advisors LLC now owns 2,241 shares of the company’s stock valued at $1,307,000 after buying an additional 17 shares during the period. Finally, Lathrop Investment Management Corp grew its position in Eli Lilly and Company by 1.2% during the third quarter. Lathrop Investment Management Corp now owns 1,476 shares of the company’s stock valued at $793,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LLY shares. Morgan Stanley raised their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Truist Financial lifted their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America boosted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $742.95.

Eli Lilly and Company Trading Down 0.8 %

Shares of Eli Lilly and Company stock traded down $5.99 on Wednesday, reaching $775.11. The company had a trading volume of 1,460,565 shares, compared to its average volume of 3,050,344. The firm’s 50 day moving average price is $761.41 and its two-hundred day moving average price is $669.21. The firm has a market cap of $736.48 billion, a PE ratio of 133.47, a PEG ratio of 1.61 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $399.26 and a 52-week high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 EPS. Sell-side analysts predict that Eli Lilly and Company will post 12.51 earnings per share 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.