Canal Capital Management LLC Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Canal Capital Management LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,750 shares of the company’s stock after selling 28 shares during the quarter. Canal Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LLY. OneAscent Wealth Management LLC purchased a new stake in Eli Lilly and Company during the 1st quarter valued at about $359,000. Webster Bank N. A. raised its holdings in shares of Eli Lilly and Company by 2.9% during the first quarter. Webster Bank N. A. now owns 1,982 shares of the company’s stock valued at $1,542,000 after acquiring an additional 56 shares during the last quarter. Norris Perne & French LLP MI purchased a new position in Eli Lilly and Company in the 1st quarter worth approximately $318,000. Total Investment Management Inc. acquired a new position in Eli Lilly and Company during the first quarter worth $203,000. Finally, WD Rutherford LLC purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth $187,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, September 16th. Truist Financial boosted 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 report on Thursday, October 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.41.

Eli Lilly and Company Stock Up 0.1 %

LLY stock opened at $892.51 on Friday. The company’s 50 day moving average price is $920.32 and its 200 day moving average price is $860.96. The firm has a market capitalization of $848.27 billion, a price-to-earnings ratio of 109.92, a PEG ratio of 3.24 and a beta of 0.42. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts anticipate that Eli Lilly and Company will post 14.05 EPS for the current fiscal year.

Eli Lilly and 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.