Eli Lilly and Company (NYSE:LLY) Stake Lessened by Annex Advisory Services LLC

Annex Advisory Services LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,221 shares of the company’s stock after selling 182 shares during the quarter. Annex Advisory Services LLC’s holdings in Eli Lilly and Company were worth $3,740,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Planning LLC acquired a new position in Eli Lilly and Company in the first quarter worth $262,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $6,916,000. M&G Plc acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $8,896,000. HighPoint Advisor Group LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $9,878,000. Finally, Leo Wealth LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $3,355,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Citigroup assumed coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price for the company. Truist Financial upped their price objective on 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. Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective 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 report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $979.29.

Eli Lilly and Company Stock Up 2.3 %

Shares of LLY stock opened at $932.06 on Friday. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53. 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 business’s fifty day moving average is $910.84 and its 200-day moving average is $852.86. The stock has a market cap of $885.83 billion, a PE ratio of 137.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Equities analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal 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.