Lorne Steinberg Wealth Management Inc. Decreases Position in Eli Lilly and Company (NYSE:LLY)

Lorne Steinberg Wealth Management Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 31.1% during the fourth quarter, HoldingsChannel reports. The firm owned 415 shares of the company’s stock after selling 187 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $242,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lipe & Dalton purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $26,000. Thompson Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $27,000. Legacy Financial Group LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $36,000. Finally, Family CFO Inc purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter valued at approximately $40,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on LLY shares. Wells Fargo & Company lifted 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 research report on Tuesday, February 6th. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. The Goldman Sachs Group lifted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Truist Financial reiterated a “buy” rating and issued a $850.00 target price on shares of Eli Lilly and Company in a report on Friday, March 22nd. Finally, DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Stock Down 1.9 %

Shares of LLY stock traded down $13.94 on Wednesday, reaching $731.75. 1,046,031 shares of the stock were exchanged, compared to its average volume of 3,025,277. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average price is $763.89 and its 200 day moving average price is $664.05. The company has a market capitalization of $695.28 billion, a price-to-earnings ratio of 126.53, a PEG ratio of 1.59 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $370.68 and a twelve month high of $800.78.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. As a group, sell-side analysts expect that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Eli Lilly and Company Company Profile

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.