Bar Harbor Wealth Management Has $68.47 Million Stake in Eli Lilly and Company (NYSE:LLY)

Bar Harbor Wealth Management reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 77,288 shares of the company’s stock after selling 709 shares during the quarter. Eli Lilly and Company makes up 4.4% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 2nd largest position. Bar Harbor Wealth Management’s holdings in Eli Lilly and Company were worth $68,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Heirloom Wealth Management grew its position in shares of Eli Lilly and Company by 4.1% during the 3rd quarter. Heirloom Wealth Management now owns 8,056 shares of the company’s stock valued at $7,137,000 after acquiring an additional 319 shares during the period. Leverty Financial Group LLC purchased a new position in Eli Lilly and Company during the third quarter valued at $909,000. Drake & Associates LLC grew its holdings in Eli Lilly and Company by 10.7% during the third quarter. Drake & Associates LLC now owns 1,379 shares of the company’s stock valued at $1,222,000 after purchasing an additional 133 shares during the period. Secure Asset Management LLC increased its position in Eli Lilly and Company by 18.2% in the third quarter. Secure Asset Management LLC now owns 1,956 shares of the company’s stock worth $1,733,000 after buying an additional 301 shares in the last quarter. Finally, Trifecta Capital Advisors LLC raised its stake in shares of Eli Lilly and Company by 0.6% in the third quarter. Trifecta Capital Advisors LLC now owns 21,947 shares of the company’s stock worth $19,444,000 after buying an additional 131 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Berenberg Bank upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets increased their target price on 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. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Sanford C. Bernstein began coverage on shares of Eli Lilly and Company in a report on Thursday. They set an “outperform” rating and a $1,100.00 price objective for the company. Finally, 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 stock an “overweight” rating in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Eli Lilly and Company Stock Up 0.1 %

NYSE:LLY opened at $917.18 on Friday. The company’s 50-day simple moving average is $920.70 and its 200-day simple moving average is $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. The stock has a market capitalization of $871.69 billion, a P/E ratio of 135.08, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal 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.