Eli Lilly and Company (NYSE:LLY) Shares Sold by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,678 shares of the company’s stock after selling 478 shares during the period. Eli Lilly and Company makes up approximately 2.0% of Laurel Wealth Advisors LLC’s holdings, making the stock its 12th largest holding. Laurel Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $10,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Lipe & Dalton purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $27,000. Tidemark LLC purchased a new stake in Eli Lilly and Company during the 4th quarter worth approximately $29,000. Legacy Financial Group LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $35,000. Finally, Optiver Holding B.V. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $36,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LLY. DZ Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a report on Wednesday, February 21st. Citigroup lifted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Bank of America boosted their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. BMO Capital Markets boosted their price target on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $8.64 during trading on Friday, hitting $733.51. The stock had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. 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 firm has a market cap of $696.95 billion, a P/E ratio of 126.47, a PEG ratio of 1.58 and a beta of 0.34. The business has a fifty day moving average of $761.79 and a two-hundred day moving average of $666.06. Eli Lilly and Company has a fifty-two week low of $380.77 and a fifty-two week high of $800.78.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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. The business had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The company’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. On average, sell-side analysts expect that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the sale, the insider now directly owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.