Avaii Wealth Management LLC Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Avaii Wealth Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 819 shares of the company’s stock after selling 122 shares during the period. Avaii Wealth Management LLC’s holdings in Eli Lilly and Company were worth $726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $36,000. Redmont Wealth Advisors LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in Eli Lilly and Company by 53.3% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LLY shares. BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Citigroup started coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective for the company. Berenberg Bank raised their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Jefferies Financial Group raised their price target 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. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Eli Lilly and Company Stock Up 0.3 %

Shares of LLY traded up $2.32 during midday trading on Thursday, reaching $918.74. 626,868 shares of the company were exchanged, compared to its average volume of 2,980,047. The stock has a 50-day moving average price of $919.25 and a 200-day moving average price of $855.84. The company has a market cap of $873.18 billion, a price-to-earnings ratio of 135.77, a P/E/G 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 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 issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Research analysts expect that Eli Lilly and Company will post 16.49 earnings per share 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.