Spinnaker Trust Acquires 16 Shares of Eli Lilly and Company (NYSE:LLY)

Spinnaker Trust raised its position in Eli Lilly and Company (NYSE:LLY) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,524 shares of the company’s stock after purchasing an additional 16 shares during the period. Eli Lilly and Company makes up about 1.0% of Spinnaker Trust’s investment portfolio, making the stock its 22nd biggest holding. Spinnaker Trust’s holdings in Eli Lilly and Company were worth $14,878,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Kovack Advisors Inc. increased its stake in Eli Lilly and Company by 22.5% in the fourth quarter. Kovack Advisors Inc. now owns 4,751 shares of the company’s stock valued at $2,769,000 after purchasing an additional 872 shares in the last quarter. K.J. Harrison & Partners Inc bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $3,325,000. Boyd Watterson Asset Management LLC OH increased its stake in Eli Lilly and Company by 12.4% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 13,651 shares of the company’s stock valued at $7,957,000 after purchasing an additional 1,510 shares in the last quarter. Callan Capital LLC boosted its holdings in shares of Eli Lilly and Company by 169.6% in the fourth quarter. Callan Capital LLC now owns 2,828 shares of the company’s stock valued at $1,648,000 after buying an additional 1,779 shares during the period. Finally, O Brien Greene & Co. Inc boosted its holdings in shares of Eli Lilly and Company by 3.9% in the fourth quarter. O Brien Greene & Co. Inc now owns 943 shares of the company’s stock valued at $550,000 after buying an additional 35 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, March 15th. BMO Capital Markets upped their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $8.64 on Friday, hitting $733.51. 1,998,801 shares of the stock were exchanged, compared to its average volume of 3,021,320. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The business’s fifty day moving average is $761.79 and its 200 day moving average is $666.06. Eli Lilly and Company has a 52 week low of $380.77 and a 52 week high of $800.78. The company has a market capitalization of $696.95 billion, a PE ratio of 126.47, a P/E/G ratio of 1.60 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm posted $2.09 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 12.51 EPS 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.