Eli Lilly and Company (NYSE:LLY) is Tower View Wealth Management LLC’s Largest Position

Tower View Wealth Management LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,793 shares of the company’s stock after selling 386 shares during the quarter. Eli Lilly and Company makes up about 4.3% of Tower View Wealth Management LLC’s investment portfolio, making the stock its largest position. Tower View Wealth Management LLC’s holdings in Eli Lilly and Company were worth $6,874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Simon Quick Advisors LLC raised its holdings in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $363,000. Terril Brothers Inc. lifted its stake in Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after acquiring an additional 429 shares during the period. Hartline Investment Corp raised its holdings in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after purchasing an additional 248 shares during the last quarter. Finally, Meritage Portfolio Management boosted its holdings in Eli Lilly and Company by 23.4% in the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock valued at $3,717,000 after purchasing an additional 1,208 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price (up from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday. Truist Financial raised 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 note on Wednesday. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a research report on Wednesday, February 21st. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $9.07 during trading hours on Thursday, hitting $767.68. The stock had a trading volume of 730,834 shares, compared to its average volume of 3,038,991. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The stock’s fifty day moving average is $762.03 and its two-hundred day moving average is $669.96. Eli Lilly and Company has a 1-year low of $414.31 and a 1-year high of $800.78. The stock has a market capitalization of $729.42 billion, a price-to-earnings ratio of 114.40, a PEG ratio of 1.58 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly 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 59.28% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, analysts predict that Eli Lilly and Company will post 13.5 earnings per share for the current fiscal year.

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.