Summit Financial Strategies Inc. Raises Stake in Eli Lilly and Company (NYSE:LLY)

Summit Financial Strategies Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,105 shares of the company’s stock after purchasing an additional 11 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Eli Lilly and Company were worth $1,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $36,000. Cedar Mountain Advisors LLC boosted its stake in shares of Eli Lilly and Company by 53.3% during the 3rd 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 grew its position in shares of Eli Lilly and Company by 45.5% during the 2nd 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 purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $45,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.3 %

Shares of Eli Lilly and Company stock traded up $2.53 on Thursday, reaching $918.95. The company had a trading volume of 546,262 shares, compared to its average volume of 2,979,646. The firm has a market cap of $873.37 billion, a price-to-earnings ratio of 135.77, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm’s 50-day moving average price is $919.25 and its two-hundred day moving average price is $855.84. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share 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 business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LLY shares. JPMorgan Chase & Co. boosted their price target 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. Citigroup initiated coverage on shares of Eli Lilly and Company in a report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Truist Financial raised their price objective on shares of 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, October 10th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

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.