Frank Rimerman Advisors LLC Trims Position in Eli Lilly and Company (NYSE:LLY)

Frank Rimerman Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 39.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,705 shares of the company’s stock after selling 5,744 shares during the quarter. Eli Lilly and Company comprises about 0.5% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Frank Rimerman Advisors LLC’s holdings in Eli Lilly and Company were worth $6,720,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LLY. Van Strum & Towne Inc. raised its position in Eli Lilly and Company by 25.8% in the fourth quarter. Van Strum & Towne Inc. now owns 5,879 shares of the company’s stock valued at $4,539,000 after purchasing an additional 1,204 shares during the period. Copperwynd Financial LLC raised its position in Eli Lilly and Company by 5.3% in the fourth quarter. Copperwynd Financial LLC now owns 4,230 shares of the company’s stock valued at $3,266,000 after purchasing an additional 211 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $317,000. Montis Financial LLC raised its position 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 purchasing an additional 238 shares during the period. Finally, Buckley Wealth Management LLC raised its position 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 purchasing an additional 19 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on LLY shares. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Truist Financial lifted their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Eli Lilly and Company Trading Up 1.5 %

Eli Lilly and Company stock opened at $813.55 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market cap of $771.38 billion, a price-to-earnings ratio of 69.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. The firm’s 50 day moving average price is $830.81 and its two-hundred day moving average price is $844.01.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing the consensus estimate 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%. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has authorized a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

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.