Silverlake Wealth Management LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

by · The Markets Daily

Silverlake Wealth Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,129 shares of the company’s stock after selling 69 shares during the period. Silverlake Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lynx Investment Advisory purchased a new position in Eli Lilly and Company in the second quarter worth about $32,000. LGT Financial Advisors LLC purchased a new stake in Eli Lilly and Company during the second quarter valued at approximately $36,000. Redmont Wealth Advisors LLC bought a new position in Eli Lilly and Company in the first quarter worth approximately $40,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth $43,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LLY shares. Berenberg Bank lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Guggenheim upped their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on 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. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $979.29.

View Our Latest Research Report on LLY

Eli Lilly and Company Stock Up 2.3 %

Shares of NYSE LLY traded up $21.37 during midday trading on Friday, hitting $932.06. 2,293,874 shares of the company’s stock were exchanged, compared to its average volume of 3,009,544. The firm’s fifty day simple moving average is $910.84 and its 200-day simple moving average is $852.32. The company has a market cap of $885.83 billion, a PE ratio of 137.27, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a twelve month low of $547.61 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Company Profile

(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.

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