Eli Lilly and Company (NYSE:LLY) Shares Sold by High Note Wealth LLC

High Note Wealth LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,987 shares of the company’s stock after selling 34 shares during the quarter. High Note Wealth LLC’s holdings in Eli Lilly and Company were worth $2,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Norges Bank bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $3,416,206,000. Moneta Group Investment Advisors LLC raised its stake in shares of Eli Lilly and Company by 102,752.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock valued at $1,992,374,000 after purchasing an additional 5,440,731 shares in the last quarter. Morgan Stanley raised its stake in shares of Eli Lilly and Company by 44.1% during the fourth quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after purchasing an additional 3,691,436 shares in the last quarter. Imprint Wealth LLC raised its stake in shares of Eli Lilly and Company by 53,716.8% during the second quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock valued at $175,120,000 after purchasing an additional 1,747,946 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $445,944,000. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Bank of America boosted their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Truist Financial restated a “buy” rating and set a $850.00 price objective on shares of Eli Lilly and Company in a report on Friday, March 22nd. Barclays lifted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $689.52.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 34,538 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the sale, the insider now owns 99,719,884 shares in the company, valued at $63,004,019,910.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 195,055 shares of company stock worth $125,254,657 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $778.69 on Thursday. The business has a fifty day simple moving average of $727.96 and a 200 day simple moving average of $636.01. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $739.88 billion, a price-to-earnings ratio of 134.26, a PEG ratio of 1.70 and a beta of 0.34. Eli Lilly and Company has a one year low of $334.58 and a one year high of $800.78.

Eli Lilly and Company (NYSE:LLY) last issued its 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. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company posted $2.09 earnings per share. Eli Lilly and Company’s revenue was up 28.1% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 12.42 EPS for the current year.

Eli Lilly and Company 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.