Grove Bank & Trust Has $5.34 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Grove Bank & Trust raised its position in Eli Lilly and Company (NYSE:LLY) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,029 shares of the company’s stock after purchasing an additional 125 shares during the period. Eli Lilly and Company makes up about 0.8% of Grove Bank & Trust’s investment portfolio, making the stock its 27th biggest holding. Grove Bank & Trust’s holdings in Eli Lilly and Company were worth $5,341,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the second quarter valued at approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the 2nd quarter worth about $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $40,000. Morton Brown Family Wealth LLC lifted its holdings in shares of 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 purchasing an additional 15 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Barclays increased their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a report on Thursday, October 3rd. 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. Finally, Wells Fargo & Company upped their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $979.29.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $0.89 during mid-day trading on Monday, hitting $931.17. 637,776 shares of the company’s stock were exchanged, compared to its average volume of 2,997,503. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 52 week low of $547.61 and a 52 week high of $972.53. The stock’s 50-day simple moving average is $910.84 and its 200-day simple moving average is $853.38. The firm has a market cap of $884.99 billion, a price-to-earnings ratio of 137.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results 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. The firm had revenue of $11.30 billion during 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%. On average, 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.