Wellington Shields & Co. LLC Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Wellington Shields & Co. LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,235 shares of the company’s stock after selling 300 shares during the quarter. Eli Lilly and Company accounts for approximately 3.1% of Wellington Shields & Co. LLC’s investment portfolio, making the stock its 4th largest position. Wellington Shields & Co. LLC’s holdings in Eli Lilly and Company were worth $10,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LLY. Geode Capital Management LLC lifted its position in shares of Eli Lilly and Company by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 17,090,971 shares of the company’s stock valued at $15,089,563,000 after acquiring an additional 85,823 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eli Lilly and Company by 2.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,115,504 shares of the company’s stock worth $5,417,970,000 after purchasing an additional 157,741 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Eli Lilly and Company by 3.5% during the fourth quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock valued at $4,042,276,000 after purchasing an additional 178,007 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Eli Lilly and Company by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,035,084 shares of the company’s stock worth $3,887,085,000 after purchasing an additional 199,864 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Wolfe Research assumed coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 target price on the stock. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Stock Down 2.9 %

LLY stock opened at $798.39 on Friday. Eli Lilly and Company has a twelve month low of $711.40 and a twelve month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50 day moving average price of $830.18 and a two-hundred day moving average price of $844.96. The company has a market cap of $757.01 billion, a price-to-earnings ratio of 68.18, a P/E/G ratio of 1.40 and a beta of 0.34.

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 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%. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company announced that its Board of Directors has initiated a stock buyback program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was 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 approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

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.