Eli Lilly and Company (NYSE:LLY) is Centric Wealth Management’s 8th Largest Position

Centric Wealth Management lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,599 shares of the company’s stock after selling 2,957 shares during the period. Eli Lilly and Company accounts for approximately 2.2% of Centric Wealth Management’s portfolio, making the stock its 8th largest holding. Centric Wealth Management’s holdings in Eli Lilly and Company were worth $8,183,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. increased its holdings in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $50,000. Finally, Fiduciary Advisors Inc. bought a new stake in Eli Lilly and Company during the fourth quarter valued at $58,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $825.42 on Tuesday. 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 company has a 50-day moving average price of $846.30 and a 200-day moving average price of $835.00. The company has a market cap of $782.64 billion, a price-to-earnings ratio of 70.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $711.40 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its Board of Directors has approved a stock buyback program on Monday, December 9th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

LLY has been the topic of several recent analyst reports. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Citigroup lowered their target price on shares of 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. Truist Financial boosted their price target 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 note on Monday, February 3rd. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Finally, 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. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

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.