Eli Lilly and Company (NYSE:LLY) Position Cut by Fox Hill Wealth Management

Fox Hill Wealth Management cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,381 shares of the company’s stock after selling 969 shares during the period. Eli Lilly and Company accounts for about 4.1% of Fox Hill Wealth Management’s portfolio, making the stock its 4th biggest position. Fox Hill Wealth Management’s holdings in Eli Lilly and Company were worth $7,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Enhancing Capital LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $6,408,000. Halter Ferguson Financial Inc. grew its stake in shares of Eli Lilly and Company by 16.6% during the fourth quarter. Halter Ferguson Financial Inc. now owns 6,801 shares of the company’s stock valued at $5,250,000 after buying an additional 968 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $54,907,000. Evoke Wealth LLC grew its stake in shares of Eli Lilly and Company by 2.9% during the fourth quarter. Evoke Wealth LLC now owns 7,466 shares of the company’s stock valued at $5,764,000 after buying an additional 211 shares during the last quarter. Finally, Horizon Investments LLC grew its stake in shares of Eli Lilly and Company by 64.3% during the fourth quarter. Horizon Investments LLC now owns 8,932 shares of the company’s stock valued at $6,896,000 after buying an additional 3,497 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction 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 $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $821.67 on Wednesday. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53. The stock has a fifty day moving average price of $833.02 and a 200-day moving average price of $840.71. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap of $779.08 billion, a PE ratio of 70.17, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results 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%. Equities research analysts predict 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 approved a share buyback program on Monday, December 9th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

LLY has been the topic of several research analyst reports. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research note on Friday, January 17th. Citigroup dropped their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Bank of America reissued a “buy” rating and issued a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,009.72.

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.