Cabot Wealth Management Inc. Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Cabot Wealth Management Inc. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,248 shares of the company’s stock after selling 186 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in LLY. Swedbank AB purchased a new position in Eli Lilly and Company during the first quarter worth $932,797,000. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after purchasing an additional 936,033 shares during the last quarter. GQG Partners LLC lifted its position in shares of Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Eli Lilly and Company by 71.6% during the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock worth $1,369,825,000 after purchasing an additional 631,312 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on LLY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, September 16th. BMO Capital Markets lifted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Barclays upped their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $979.29.

Eli Lilly and Company Trading Down 1.7 %

NYSE:LLY traded down $16.19 during trading hours on Tuesday, hitting $913.32. The company had a trading volume of 2,267,346 shares, compared to its average volume of 2,998,495. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average of $913.95 and a 200 day moving average of $854.46. The company has a market cap of $868.02 billion, a P/E ratio of 134.14, a P/E/G ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $547.61 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its 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 during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share 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.