Morse Asset Management Inc Has $9.88 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Morse Asset Management Inc lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,910 shares of the company’s stock after selling 229 shares during the period. Eli Lilly and Company makes up about 2.4% of Morse Asset Management Inc’s investment portfolio, making the stock its 7th largest position. Morse Asset Management Inc’s holdings in Eli Lilly and Company were worth $9,878,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company during the second quarter valued at $36,000. Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY opened at $921.49 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company has a 50 day moving average price of $895.06 and a 200-day moving average price of $838.73. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The stock has a market capitalization of $875.79 billion, a PE ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on LLY. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Bank of America upped their price objective on 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. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 425,000 shares of company stock worth $394,455,351 in the last three months. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Profile

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.