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

Tower View Wealth Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,793 shares of the company’s stock after selling 386 shares during the quarter. Eli Lilly and Company comprises about 4.3% of Tower View Wealth Management LLC’s portfolio, making the stock its largest holding. 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 also recently bought and sold shares of the business. Simon Quick Advisors LLC increased its stake in Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $363,000. Terril Brothers Inc. raised its position in shares of Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares during the last quarter. Hartline Investment Corp increased its stake in Eli Lilly and Company by 1.1% during the 4th quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares in the last quarter. Finally, Meritage Portfolio Management grew its holdings in shares of Eli Lilly and Company by 23.4% during the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock valued at $3,717,000 after buying an additional 1,208 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LLY. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Morgan Stanley lifted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Barclays increased their price target on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Price Performance

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

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, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 59.28%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. As a group, research 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.