Ascension Asset Management LLC Sells 50 Shares of Eli Lilly and Company (NYSE:LLY)

Ascension Asset Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,140 shares of the company’s stock after selling 50 shares during the period. Eli Lilly and Company makes up 1.5% of Ascension Asset Management LLC’s holdings, making the stock its 18th largest position. Ascension Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Swedbank AB bought a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. raised its stake in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after buying an additional 936,033 shares during the period. GQG Partners LLC lifted its holdings 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 acquiring an additional 648,094 shares in the last quarter. Finally, Comerica Bank grew its stake in Eli Lilly and Company by 71.6% in the second quarter. Comerica Bank now owns 1,512,983 shares of the company’s stock valued at $1,369,825,000 after acquiring an additional 631,312 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 423,559 shares of company stock worth $393,136,808 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LLY. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price objective for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective on the stock. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Price Performance

Shares of LLY opened at $877.79 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company’s fifty day simple moving average is $896.10 and its 200 day simple moving average is $843.52. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The company has a market cap of $834.26 billion, a price-to-earnings ratio of 129.28, a PEG ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. On average, research analysts forecast that Eli Lilly and Company will post 16.49 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.