Resolute Wealth Strategies LLC Increases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Resolute Wealth Strategies LLC grew its holdings in Eli Lilly and Company (NYSE:LLY) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 724 shares of the company’s stock after acquiring an additional 47 shares during the quarter. Resolute Wealth Strategies LLC’s holdings in Eli Lilly and Company were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lipe & Dalton purchased a new position in Eli Lilly and Company during the 4th quarter worth $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $27,000. Legacy Financial Group LLC acquired a new stake in Eli Lilly and Company in the third quarter valued at about $35,000. Optiver Holding B.V. purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at approximately $36,000. Finally, Family CFO Inc purchased a new stake in Eli Lilly and Company in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 2.8 %

Shares of NYSE LLY traded down $20.94 during midday trading on Friday, hitting $734.97. The stock had a trading volume of 4,595,138 shares, compared to its average volume of 2,629,045. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1-year low of $419.80 and a 1-year high of $800.78. The company has a market capitalization of $698.52 billion, a price-to-earnings ratio of 108.24, a PEG ratio of 1.46 and a beta of 0.37. The company has a fifty day moving average price of $761.06 and a 200 day moving average price of $671.38.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. On average, analysts predict that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LLY shares. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a report on Wednesday, February 21st. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Barclays upped their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

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.