Red Wave Investments LLC Reduces Position in Eli Lilly and Company (NYSE:LLY)

Red Wave Investments LLC lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 597 shares of the company’s stock after selling 24 shares during the period. Red Wave Investments LLC’s holdings in Eli Lilly and Company were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LLY. Eagle Wealth Strategies LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $2,335,000. Meridian Wealth Partners LLC grew its position in Eli Lilly and Company by 5.6% in the 4th quarter. Meridian Wealth Partners LLC now owns 607 shares of the company’s stock valued at $354,000 after buying an additional 32 shares during the last quarter. Magnus Financial Group LLC increased its stake in Eli Lilly and Company by 3.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,418 shares of the company’s stock valued at $3,158,000 after buying an additional 163 shares during the period. Convergence Investment Partners LLC raised its position in Eli Lilly and Company by 9.5% during the 4th quarter. Convergence Investment Partners LLC now owns 1,554 shares of the company’s stock worth $906,000 after buying an additional 135 shares during the last quarter. Finally, Little House Capital LLC lifted its stake in shares of Eli Lilly and Company by 85.3% in the 4th quarter. Little House Capital LLC now owns 2,515 shares of the company’s stock worth $1,466,000 after acquiring an additional 1,158 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the transaction, the insider now owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group boosted their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $815.00 target price on shares of Eli Lilly and Company in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $731.91 on Monday. The stock has a fifty day moving average price of $761.79 and a 200 day moving average price of $667.10. Eli Lilly and Company has a 52 week low of $392.26 and a 52 week high of $800.78. The firm has a market capitalization of $695.43 billion, a P/E ratio of 127.22, a PEG ratio of 1.60 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the prior year, the company posted $2.09 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 12.51 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.