Hollencrest Capital Management Sells 2,027 Shares of Eli Lilly and Company (NYSE:LLY)

Hollencrest Capital Management trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 61.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,268 shares of the company’s stock after selling 2,027 shares during the period. Hollencrest Capital Management’s holdings in Eli Lilly and Company were worth $979,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Eli Lilly and Company by 6.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,043 shares of the company’s stock worth $3,121,000 after buying an additional 248 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Eli Lilly and Company by 48.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 101,735 shares of the company’s stock valued at $78,539,000 after purchasing an additional 33,245 shares in the last quarter. PFG Advisors boosted its stake in shares of Eli Lilly and Company by 6.3% in the 4th quarter. PFG Advisors now owns 3,632 shares of the company’s stock valued at $2,803,000 after purchasing an additional 215 shares in the last quarter. Summit X LLC boosted its stake in shares of Eli Lilly and Company by 2.2% in the 4th quarter. Summit X LLC now owns 3,706 shares of the company’s stock valued at $2,865,000 after purchasing an additional 80 shares in the last quarter. Finally, Wealth High Governance Capital Ltda boosted its stake in shares of Eli Lilly and Company by 24.0% in the 4th quarter. Wealth High Governance Capital Ltda now owns 6,200 shares of the company’s stock valued at $4,786,000 after purchasing an additional 1,200 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a research note on Friday, January 17th. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial lifted their target price 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 shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley set a $1,146.00 target price on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Price Performance

LLY opened at $823.95 on Wednesday. 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 company has a market capitalization of $781.25 billion, a price-to-earnings ratio of 70.36, a P/E/G ratio of 1.40 and a beta of 0.34. The firm’s fifty day moving average price is $828.77 and its two-hundred day moving average price is $845.45. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, 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 share buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.