Washington Trust Advisors Inc. Sells 111 Shares of Eli Lilly and Company (NYSE:LLY)

Washington Trust Advisors Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 9.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,105 shares of the company’s stock after selling 111 shares during the period. Washington Trust Advisors Inc.’s holdings in Eli Lilly and Company were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. JGP Wealth Management LLC increased its stake in Eli Lilly and Company by 0.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock worth $1,074,000 after purchasing an additional 16 shares during the period. Cassia Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 1.8% in the third quarter. Cassia Capital Partners LLC now owns 951 shares of the company’s stock valued at $511,000 after acquiring an additional 17 shares in the last quarter. Walkner Condon Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 2.8% in the third quarter. Walkner Condon Financial Advisors LLC now owns 621 shares of the company’s stock valued at $334,000 after purchasing an additional 17 shares during the period. Patton Albertson Miller Group LLC increased its holdings in Eli Lilly and Company by 2.8% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock worth $335,000 after purchasing an additional 17 shares during the period. Finally, Valley Wealth Managers Inc. raised its position in Eli Lilly and Company by 1.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock valued at $688,000 after purchasing an additional 17 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LLY. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target for the company. in a report on Wednesday, February 21st. BMO Capital Markets raised their price objective 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. Bank of America boosted their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Truist Financial restated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $689.52.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 34,538 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the completion of the transaction, the insider now owns 99,719,884 shares in the company, valued at $63,004,019,910.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,055 shares of company stock valued at $125,254,657. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $4.53 during mid-day trading on Thursday, reaching $782.71. 1,696,167 shares of the company’s stock were exchanged, compared to its average volume of 3,210,316. The business’s fifty day simple moving average is $727.96 and its 200-day simple moving average is $636.01. Eli Lilly and Company has a 52-week low of $334.58 and a 52-week high of $800.78. 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 stock has a market capitalization of $743.70 billion, a PE ratio of 135.99, a price-to-earnings-growth ratio of 1.70 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts expect that Eli Lilly and Company will post 12.42 earnings per share for the current 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.