Essex Financial Services Inc. Has $14.62 Million Stake in Eli Lilly and Company (NYSE:LLY)

Essex Financial Services Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,081 shares of the company’s stock after selling 281 shares during the period. Eli Lilly and Company makes up 1.5% of Essex Financial Services Inc.’s holdings, making the stock its 11th largest position. Essex Financial Services Inc.’s holdings in Eli Lilly and Company were worth $14,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in LLY. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $27,000. Legacy Financial Group LLC bought a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $35,000. Optiver Holding B.V. bought a new position in shares of Eli Lilly and Company in the third quarter valued at $36,000. Finally, Family CFO Inc acquired a new position in Eli Lilly and Company during the third quarter worth $40,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.8 %

Shares of LLY stock traded down $5.99 during mid-day trading on Wednesday, hitting $775.11. The company’s stock had a trading volume of 1,460,565 shares, compared to its average volume of 3,050,344. The company has a market cap of $736.48 billion, a PE ratio of 133.47, a P/E/G ratio of 1.61 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The company’s fifty day simple moving average is $761.41 and its 200-day simple moving average is $669.21. Eli Lilly and Company has a 52 week low of $399.26 and a 52 week high of $800.78.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts expect that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent analyst reports. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets lifted their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research note on Wednesday. DZ Bank downgraded 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 report on Wednesday, February 21st. Bank of America lifted their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Truist Financial increased their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $742.95.

About Eli Lilly and Company

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.