Kavar Capital Partners Group LLC Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Kavar Capital Partners Group LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,808 shares of the company’s stock after selling 35 shares during the period. Kavar Capital Partners Group LLC’s holdings in Eli Lilly and Company were worth $2,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&G Plc purchased a new stake in Eli Lilly and Company in the first quarter worth about $8,896,000. Virtu Financial LLC purchased a new stake in shares of Eli Lilly and Company during the first quarter worth about $2,138,000. China Universal Asset Management Co. Ltd. grew its position in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares in the last quarter. Mutual Advisors LLC grew its position in shares of Eli Lilly and Company by 404.8% during the first quarter. Mutual Advisors LLC now owns 62,598 shares of the company’s stock worth $48,699,000 after purchasing an additional 50,197 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Eli Lilly and Company by 0.6% during the first quarter. Private Advisor Group LLC now owns 76,282 shares of the company’s stock worth $59,345,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LLY. Bank of America increased their target price 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. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Barclays raised their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Price Performance

LLY opened at $892.70 on Monday. The business has a fifty day moving average of $919.74 and a 200 day moving average of $863.20. Eli Lilly and Company has a 52-week low of $547.61 and a 52-week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market cap of $848.43 billion, a P/E ratio of 131.47, a PEG ratio of 3.24 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 14.05 EPS for the current year.

Eli Lilly and 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.