Summitry LLC Has $304,000 Stake in Eli Lilly and Company (NYSE:LLY)

Summitry LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 27.8% during the 4th quarter, Holdings Channel reports. The fund owned 394 shares of the company’s stock after selling 152 shares during the quarter. Summitry LLC’s holdings in Eli Lilly and Company were worth $304,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. CWA Asset Management Group LLC grew its holdings in shares of Eli Lilly and Company by 11.9% during the fourth quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the last quarter. Centerpoint Advisory Group bought a new stake in Eli Lilly and Company during the 4th quarter worth about $514,000. M&T Bank Corp raised its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $834,000. Finally, Proficio Capital Partners LLC lifted its position in shares of Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Down 1.5 %

NYSE LLY opened at $852.35 on Wednesday. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market cap of $808.17 billion, a P/E ratio of 72.79, a P/E/G ratio of 1.40 and a beta of 0.34. The stock’s 50-day moving average is $839.56 and its 200-day moving average is $837.61.

Eli Lilly and Company (NYSE:LLY) last announced its 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 return on equity of 85.24% and a net margin of 23.51%. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

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.