WealthTrust Axiom LLC Reduces Stake in Eli Lilly and Company (NYSE:LLY)

WealthTrust Axiom LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,815 shares of the company’s stock after selling 332 shares during the period. Eli Lilly and Company comprises approximately 2.3% of WealthTrust Axiom LLC’s investment portfolio, making the stock its 8th largest holding. WealthTrust Axiom LLC’s holdings in Eli Lilly and Company were worth $6,888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Simon Quick Advisors LLC raised its stake in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares during the period. Clear Harbor Asset Management LLC bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $363,000. Terril Brothers Inc. raised its stake in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the period. Hartline Investment Corp raised its stake in Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after buying an additional 248 shares during the period. Finally, Meritage Portfolio Management raised its stake in Eli Lilly and Company by 23.4% in the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock valued at $3,717,000 after buying an additional 1,208 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the transaction, the insider now directly owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $40.73 during trading hours on Tuesday, reaching $777.93. The company’s stock had a trading volume of 5,818,142 shares, compared to its average volume of 3,049,760. Eli Lilly and Company has a fifty-two week low of $392.26 and a fifty-two week high of $800.78. The company has a market capitalization of $739.16 billion, a price-to-earnings ratio of 134.43, a PEG ratio of 1.60 and a beta of 0.34. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The firm’s 50 day simple moving average is $760.89 and its 200-day simple moving average is $668.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. Eli Lilly and Company’s revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets upped their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group upped their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company upped their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $731.55.

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.