Sound Income Strategies LLC Purchases 15 Shares of Eli Lilly and Company (NYSE:LLY)

Sound Income Strategies LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,776 shares of the company’s stock after acquiring an additional 15 shares during the quarter. Sound Income Strategies LLC’s holdings in Eli Lilly and Company were worth $4,231,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LLY. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company during the 1st quarter valued at approximately $6,916,000. M&G Plc bought a new position in Eli Lilly and Company during the 1st quarter valued at approximately $8,896,000. HighPoint Advisor Group LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at approximately $9,878,000. Finally, Leo Wealth LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at approximately $3,355,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on LLY. Truist Financial upped their price target on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $979.29.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $21.37 on Friday, reaching $932.06. The stock had a trading volume of 2,293,874 shares, compared to its average volume of 3,009,544. The stock has a market cap of $885.83 billion, a P/E ratio of 137.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. 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 company has a 50 day simple moving average of $910.84 and a 200 day simple moving average of $852.86.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Equities research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current 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.