Eli Lilly and Company (NYSE:LLY) Stake Increased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 81.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,418 shares of the company’s stock after acquiring an additional 1,531 shares during the period. Cornerstone Wealth Management LLC’s holdings in Eli Lilly and Company were worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the 2nd quarter worth about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Cedar Mountain Advisors LLC lifted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Morton Brown Family Wealth LLC boosted its stake in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $45,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LLY. Guggenheim raised their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. BMO Capital Markets boosted their target price on shares of 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. Truist Financial raised 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 report on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $979.29.

Eli Lilly and Company Trading Up 0.3 %

Shares of NYSE:LLY opened at $916.33 on Thursday. 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 stock’s 50-day moving average is $919.25 and its 200-day moving average is $855.84. The company has a market cap of $870.88 billion, a P/E ratio of 134.95, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53.

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, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates 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 predict 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.