Summit Global Investments Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Summit Global Investments trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 75.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,386 shares of the company’s stock after selling 7,344 shares during the quarter. Summit Global Investments’ holdings in Eli Lilly and Company were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Aveo Capital Partners LLC boosted its stake in Eli Lilly and Company by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after buying an additional 153 shares during the period. Levin Capital Strategies L.P. grew its holdings in shares of Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares during the last quarter. Intelligence Driven Advisers LLC grew its holdings in shares of Eli Lilly and Company by 40.2% in the fourth quarter. Intelligence Driven Advisers LLC now owns 1,300 shares of the company’s stock worth $839,000 after purchasing an additional 373 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Eli Lilly and Company by 6.9% in the fourth quarter. Natixis Advisors L.P. now owns 507,146 shares of the company’s stock worth $295,625,000 after purchasing an additional 32,690 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Eli Lilly and Company by 5.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 354,565 shares of the company’s stock worth $206,683,000 after purchasing an additional 17,461 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $20.94 during midday trading on Friday, reaching $734.97. 4,595,138 shares of the stock were exchanged, compared to its average volume of 2,629,045. The firm has a market cap of $698.52 billion, a price-to-earnings ratio of 108.24, a PEG ratio of 1.50 and a beta of 0.37. Eli Lilly and Company has a twelve month low of $419.80 and a twelve month high of $800.78. The firm has a 50-day simple moving average of $761.75 and a two-hundred day simple moving average of $670.56. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. As a group, analysts anticipate that Eli Lilly and Company will post 13.83 EPS 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.