Probity Advisors Inc. Sells 335 Shares of Eli Lilly and Company (NYSE:LLY)

Probity Advisors Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,658 shares of the company’s stock after selling 335 shares during the quarter. Probity Advisors Inc.’s holdings in Eli Lilly and Company were worth $3,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the second quarter valued at approximately $36,000. Redmont Wealth Advisors LLC bought a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $40,000. Morton Brown Family Wealth LLC boosted its position in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after buying an additional 15 shares during the last quarter. Finally, Cedar Mountain Advisors LLC grew its holdings in Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after buying an additional 16 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on LLY. Berenberg Bank lifted their price objective 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. 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 target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Eli Lilly and Company Trading Up 0.7 %

Shares of Eli Lilly and Company stock opened at $923.00 on Thursday. The stock has a market capitalization of $877.22 billion, a P/E ratio of 134.95, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock’s 50-day simple moving average is $919.25 and its 200 day simple moving average is $855.84.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current 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.