Summit Global Investments Has $1.39 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Summit Global Investments lessened its stake in Eli Lilly and Company (NYSE:LLY) by 75.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,386 shares of the company’s stock after selling 7,344 shares during the quarter. Summit Global Investments’ holdings in Eli Lilly and Company were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. International Assets Investment Management LLC boosted its holdings in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the period. Sapient Capital LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $617,312,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company in the third quarter worth $435,736,000. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Eli Lilly and Company by 24.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock worth $1,778,362,000 after purchasing an additional 645,473 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on LLY shares. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upped their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company upped 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 report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $757.95.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $20.94 during trading hours on Friday, reaching $734.97. 4,595,138 shares of the stock were exchanged, compared to its average volume of 2,629,045. The company has a market cap of $698.52 billion, a P/E ratio of 108.24, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. The company has a current ratio of 1.35, a quick ratio of 0.73 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $419.80 and a twelve month high of $800.78. The stock has a 50 day moving average of $761.75 and a two-hundred day moving average of $670.56.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Equities analysts expect that Eli Lilly and Company will post 13.83 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.