13F Digest| $LLY Was BlackRock's Top Overweight Stock in Q3
$Eli Lilly(LLY)$ was BlackRock's top overweight stock in Q3.
The BlackRock Inc’,one of the world's largest asset managers released 13F document on Nov.13th. It shows that in the Q3, BlackRock reduced its holdings of $NVIDIA Corp(NVDA)$, $Apple(AAPL)$, $Microsoft(MSFT)$ , $Alphabet(GOOG)$ ,even $UnitedHealth(UNH)$ & $Exxon Mobil(XOM)$
Source:https://fintel.io/i13f/blackrock/2023-09-30-0
But BlackRock is not entirely underweight technology stocks in Q3.
$Eli Lilly(LLY)$ was BlackRock's top overweight stock in Q3, with a total of more than 1.2 million shares purchased.
As of the end of Q3, the total market value of BlackRock's positions dropped to $3.48 trillion; 174 stocks were opened and 227 stocks were cleared.
Regarding $Eli Lilly(LLY)$, it has gain 67.48% yearly. The recent news also positive.
Fundamentally, $Eli Lilly(LLY)$ 's Growth capabilities in 2023 will increase significantly compared with the previous year.
Source from Tiger Trade
From a technical analysis view, some analyst commented that after a strong day to start this week, this is getting even closer to a big ascending triangle breakout. Maybe we will see $Eli Lilly(LLY)$ hit new high soon.
@Jake__Wujastyk
Based on 20 Wall Street analysts offering 12 month price targets for Eli Lilly & Co in the last 3 months. The average price target is $645.72 with a high forecast of $722.00 and a low forecast of $480.00. The average price target represents a 5.39% change from the last price of $612.71.
Source from TIPRANKS
What do you think of this hedge fund position changes on tech stocks and $Eli Lilly(LLY)$？
$Eli Lilly(LLY)$ will ascend more?
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