Shulman DeMeo Asset Management LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Shulman DeMeo Asset Management LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the company’s stock after selling 57 shares during the period. Eli Lilly and Company makes up approximately 0.4% of Shulman DeMeo Asset Management LLC’s portfolio, making the stock its 19th largest position. Shulman DeMeo Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,710,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 buying an additional 1,133,810 shares during the period. Capital Research Global Investors grew its position in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the period. Capital International Investors grew its position in Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. GQG Partners LLC grew its position in 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 buying an additional 648,094 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Eli Lilly and Company by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after buying an additional 171,595 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Bank of America increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Finally, Berenberg Bank increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. 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.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $979.29.

Eli Lilly and Company Trading Down 1.7 %

Shares of LLY stock traded down $16.19 during mid-day trading on Tuesday, reaching $913.32. The company’s stock had a trading volume of 2,267,346 shares, compared to its average volume of 2,998,495. The company’s 50 day simple moving average is $913.95 and its 200-day simple moving average is $854.46. Eli Lilly and Company has a 12-month low of $547.61 and a 12-month 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 firm has a market capitalization of $868.02 billion, a PE ratio of 134.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, research analysts predict that Eli Lilly and Company will post 16.49 EPS 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.