Clearstead Trust LLC Sells 249 Shares of Eli Lilly and Company (NYSE:LLY)

Clearstead Trust LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,872 shares of the company’s stock after selling 249 shares during the quarter. Eli Lilly and Company accounts for 0.8% of Clearstead Trust LLC’s holdings, making the stock its 22nd largest position. Clearstead Trust LLC’s holdings in Eli Lilly and Company were worth $3,761,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Copperwynd Financial LLC increased its holdings in shares of Eli Lilly and Company by 5.3% during the fourth quarter. Copperwynd Financial LLC now owns 4,230 shares of the company’s stock worth $3,266,000 after purchasing an additional 211 shares during the period. Greykasell Wealth Strategies Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $317,000. Montis Financial LLC increased its stake in Eli Lilly and Company by 46.4% in the fourth quarter. Montis Financial LLC now owns 751 shares of the company’s stock valued at $580,000 after acquiring an additional 238 shares during the last quarter. Buckley Wealth Management LLC increased its stake in Eli Lilly and Company by 3.6% in the fourth quarter. Buckley Wealth Management LLC now owns 546 shares of the company’s stock valued at $422,000 after acquiring an additional 19 shares during the last quarter. Finally, United Capital Management of KS Inc. increased its stake in Eli Lilly and Company by 0.7% in the fourth quarter. United Capital Management of KS Inc. now owns 12,317 shares of the company’s stock valued at $9,509,000 after acquiring an additional 84 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $813.55 on Friday. The company has a market capitalization of $771.38 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The stock has a fifty day simple moving average of $830.81 and a 200 day simple moving average of $844.01. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Citigroup decreased their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

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.