Eli Lilly and Company (NYSE:LLY) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 7.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,107 shares of the company’s stock after selling 2,136 shares during the period. Eli Lilly and Company comprises 1.1% of Essex Financial Services Inc.’s investment portfolio, making the stock its 10th biggest position. Essex Financial Services Inc.’s holdings in Eli Lilly and Company were worth $23,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Twelve Points Wealth Management LLC grew its holdings 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 worth $734,000 after purchasing an additional 11 shares during the last quarter. Verum Partners LLC grew its holdings in shares of Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 2.2% during the second quarter. Beaird Harris Wealth Management LLC now owns 512 shares of the company’s stock worth $464,000 after purchasing an additional 11 shares during the last quarter. Summit Financial Strategies Inc. grew its holdings in shares of Eli Lilly and Company by 0.5% during the third 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, Prio Wealth Limited Partnership grew its holdings in shares of Eli Lilly and Company by 0.5% during the third quarter. Prio Wealth Limited Partnership now owns 2,411 shares of the company’s stock worth $2,136,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $892.70 on Monday. The firm has a 50 day moving average of $919.74 and a 200-day moving average of $863.20. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market cap of $848.43 billion, a price-to-earnings ratio of 131.47, a PEG ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.83 billion. As a group, equities analysts expect that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Finally, Truist Financial increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.41.

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.