Elevatus Welath Management Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Elevatus Welath Management trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 86.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 644 shares of the company’s stock after selling 4,279 shares during the quarter. Elevatus Welath Management’s holdings in Eli Lilly and Company were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC grew its position in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Wellington Management Group LLP increased its holdings in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Capital International Investors raised its position in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $1,240,653,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on LLY. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial raised 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. Citigroup cut their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. Finally, Morgan Stanley decreased their price objective on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Two 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.00.

Eli Lilly and Company Trading Up 14.5 %

Shares of LLY opened at $841.70 on Friday. The stock has a market capitalization of $798.08 billion, a PE ratio of 71.88, a P/E/G ratio of 1.40 and a beta of 0.51. The company’s fifty day moving average is $829.09 and its 200 day moving average is $820.35. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was 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 in the company, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

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.