Avaii Wealth Management LLC Reduces Position in Eli Lilly and Company (NYSE:LLY)

Avaii Wealth Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 13.0% during the third quarter, Holdings Channel reports. The fund owned 819 shares of the company’s stock after selling 122 shares during the quarter. Avaii Wealth Management LLC’s holdings in Eli Lilly and Company were worth $726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abner Herrman & Brock LLC increased its holdings in Eli Lilly and Company by 1.4% in the first quarter. Abner Herrman & Brock LLC now owns 26,372 shares of the company’s stock valued at $20,517,000 after buying an additional 373 shares during the last quarter. Rise Advisors LLC grew its holdings in shares of Eli Lilly and Company by 112.3% during the first quarter. Rise Advisors LLC now owns 760 shares of the company’s stock valued at $592,000 after purchasing an additional 402 shares during the last quarter. Farmers Trust Co. grew its holdings in shares of Eli Lilly and Company by 19.3% during the first quarter. Farmers Trust Co. now owns 494 shares of the company’s stock valued at $384,000 after purchasing an additional 80 shares during the last quarter. Foster Group Inc. grew its holdings in shares of Eli Lilly and Company by 3.2% during the first quarter. Foster Group Inc. now owns 1,641 shares of the company’s stock valued at $1,277,000 after purchasing an additional 51 shares during the last quarter. Finally, New Hampshire Trust grew its holdings in shares of Eli Lilly and Company by 4.1% during the first quarter. New Hampshire Trust now owns 714 shares of the company’s stock valued at $555,000 after purchasing an additional 28 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.3 %

NYSE:LLY traded up $2.32 during trading hours on Thursday, hitting $918.74. 626,868 shares of the stock traded hands, compared to its average volume of 2,980,047. The firm has a 50 day moving average price of $919.25 and a 200 day moving average price of $855.84. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a fifty-two week low of $547.61 and a fifty-two week high of $972.53. The firm has a market cap of $873.18 billion, a price-to-earnings ratio of 135.77, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Finally, Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.