Westend Capital Management LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Westend Capital Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLYFree Report) by 53.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,682 shares of the company’s stock after selling 7,714 shares during the period. Eli Lilly and Company makes up 2.0% of Westend Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Westend Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB purchased a new position in Eli Lilly and Company in the first quarter worth about $932,797,000. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. lifted its position in Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares in the last quarter. GQG Partners LLC boosted its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Eli Lilly and Company by 71.6% in the 2nd quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LLY shares. Truist Financial increased their price objective on 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. BMO Capital Markets lifted 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 note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of 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. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $979.29.

Check Out Our Latest Stock Analysis on LLY

Eli Lilly and Company Stock Performance

LLY opened at $932.06 on Friday. The company has a 50 day simple moving average of $910.84 and a two-hundred day simple moving average of $852.86. 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 has a market cap of $885.83 billion, a P/E ratio of 137.27, a PEG ratio of 2.79 and a beta of 0.42. 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:LLYGet Free Report) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.64 by $1.28. The company 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%. Equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

About Eli Lilly and Company

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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