Brave Asset Management Inc. Cuts Position in Eli Lilly and Company (NYSE:LLY)

Brave Asset Management Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,799 shares of the company’s stock after selling 126 shares during the quarter. Brave Asset Management Inc.’s holdings in Eli Lilly and Company were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. Thompson Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the 3rd quarter valued at $27,000. Retirement Group LLC grew its stake in Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after buying an additional 35 shares during the last quarter. Cornerstone Planning Group LLC purchased a new position in Eli Lilly and Company during the 2nd quarter worth $33,000. Legacy Financial Group LLC purchased a new position in Eli Lilly and Company during the 3rd quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new position in Eli Lilly and Company during the 3rd quarter worth $36,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 14,388 shares of Eli Lilly and Company stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $630.28, for a total value of $9,068,468.64. Following the completion of the transaction, the insider now owns 99,754,422 shares in the company, valued at approximately $62,873,217,098.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 195,055 shares of company stock worth $125,254,657 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $0.22 on Thursday, hitting $777.96. The company’s stock had a trading volume of 3,185,016 shares, compared to its average volume of 3,236,305. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. Eli Lilly and Company has a 1 year low of $334.58 and a 1 year high of $800.78. The firm has a fifty day moving average price of $730.97 and a 200-day moving average price of $637.01. The company has a market capitalization of $739.19 billion, a price-to-earnings ratio of 134.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the business earned $2.09 EPS. Eli Lilly and Company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 12.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LLY. Morgan Stanley boosted their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, February 20th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Barclays lifted their price target on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $689.52.

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.