Ballast Inc. Sells 65 Shares of Eli Lilly and Company (NYSE:LLY)

Ballast Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,367 shares of the company’s stock after selling 65 shares during the quarter. Eli Lilly and Company accounts for 1.1% of Ballast Inc.’s portfolio, making the stock its 18th biggest position. Ballast Inc.’s holdings in Eli Lilly and Company were worth $3,869,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Twelve Points Wealth Management LLC boosted its stake in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC increased its holdings in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares during the period. Beaird Harris Wealth Management LLC raised its position in shares of Eli Lilly and Company by 2.2% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after acquiring an additional 11 shares in the last quarter. Summit Financial Strategies Inc. lifted its stake in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Summit Financial Strategies Inc. now owns 2,105 shares of the company’s stock worth $1,865,000 after purchasing an additional 11 shares during the last quarter. Finally, Acorn Creek Capital LLC boosted its position in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LLY. Barclays increased their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $986.00.

Eli Lilly and Company Price Performance

LLY opened at $917.18 on Friday. The stock’s 50-day moving average price is $920.70 and its 200 day moving average price is $856.27. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The firm has a market cap of $871.69 billion, a price-to-earnings ratio of 135.08, a PEG ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company 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.