Institute for Wealth Management LLC. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Institute for Wealth Management LLC. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 6,639 shares of the company’s stock after selling 126 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Eli Lilly and Company were worth $3,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $27,000. Retirement Group LLC increased its holdings in shares of Eli Lilly and Company by 159.1% during the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after purchasing an additional 35 shares during the period. Legacy Financial Group LLC acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $35,000. Finally, Optiver Holding B.V. acquired a new position in shares of Eli Lilly and Company during the third quarter valued at $36,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LLY. Wells Fargo & Company raised their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research note on Monday. Truist Financial reaffirmed a “buy” rating and set a $850.00 target price on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Finally, Bank of America increased their price objective on 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. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $728.05.

Eli Lilly and Company Trading Down 2.6 %

Shares of Eli Lilly and Company stock traded down $19.25 during trading on Friday, reaching $726.70. 2,482,421 shares of the company were exchanged, compared to its average volume of 3,058,911. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. Eli Lilly and Company has a twelve month low of $369.76 and a twelve month high of $800.78. The business has a 50-day moving average price of $764.24 and a 200-day moving average price of $658.28. The firm has a market capitalization of $690.48 billion, a price-to-earnings ratio of 125.67, a P/E/G ratio of 1.64 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. Sell-side analysts anticipate that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Eli Lilly and 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.