Laurel Wealth Advisors LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Laurel Wealth Advisors LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,678 shares of the company’s stock after selling 478 shares during the quarter. Eli Lilly and Company makes up about 2.0% of Laurel Wealth Advisors LLC’s portfolio, making the stock its 12th biggest holding. Laurel Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $10,305,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intrepid Financial Planning Group LLC boosted its stake in Eli Lilly and Company by 7.7% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 11,855 shares of the company’s stock worth $6,911,000 after purchasing an additional 851 shares during the last quarter. Cornerstone Advisory LLC boosted its stake in Eli Lilly and Company by 12.1% during the 4th quarter. Cornerstone Advisory LLC now owns 1,941 shares of the company’s stock worth $1,131,000 after purchasing an additional 209 shares during the last quarter. Stevard LLC boosted its stake in Eli Lilly and Company by 36.2% during the 4th quarter. Stevard LLC now owns 1,337 shares of the company’s stock worth $779,000 after purchasing an additional 355 shares during the last quarter. NEOS Investment Management LLC boosted its stake in Eli Lilly and Company by 65.7% during the 4th quarter. NEOS Investment Management LLC now owns 12,673 shares of the company’s stock worth $7,387,000 after purchasing an additional 5,025 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in Eli Lilly and Company by 32.7% during the 4th quarter. CWA Asset Management Group LLC now owns 3,272 shares of the company’s stock worth $1,907,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.2 %

NYSE:LLY traded up $8.64 on Friday, reaching $733.51. 2,009,249 shares of the company’s stock were exchanged, compared to its average volume of 2,265,427. 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 has a market capitalization of $696.95 billion, a price-to-earnings ratio of 126.47, a price-to-earnings-growth ratio of 1.58 and a beta of 0.34. The business has a fifty day moving average of $761.79 and a 200-day moving average of $666.06. Eli Lilly and Company has a 52-week low of $380.77 and a 52-week high of $800.78.

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

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. BMO Capital Markets lifted their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of 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. DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target on the stock. in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $815.00 price target on shares of Eli Lilly and Company in a research report on Monday, April 15th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $728.05.

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.