Bleakley Financial Group LLC Sells 22,596 Shares of Eli Lilly and Company (NYSE:LLY)

Bleakley Financial Group LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 47.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,333 shares of the company’s stock after selling 22,596 shares during the quarter. Eli Lilly and Company comprises approximately 0.7% of Bleakley Financial Group LLC’s holdings, making the stock its 26th biggest position. Bleakley Financial Group LLC’s holdings in Eli Lilly and Company were worth $22,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the second quarter worth $36,000. Redmont Wealth Advisors LLC bought a new position in Eli Lilly and Company during the first quarter worth $40,000. Morton Brown Family Wealth LLC boosted its position in Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. Finally, Cedar Mountain Advisors LLC boosted its position in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after purchasing an additional 16 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective 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. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Truist Financial boosted their target price 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. Finally, Sanford C. Bernstein began coverage on Eli Lilly and Company in a research note on Thursday. They issued an “outperform” rating and a $1,100.00 price target for the company. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $917.18 on Friday. The company has a market capitalization of $871.69 billion, a PE ratio of 135.08, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a 50 day simple moving average of $920.70 and a two-hundred day simple moving average of $856.27. 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 has a fifty-two week low of $547.61 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during 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%. Research analysts anticipate 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.