Desjardins Global Asset Management Inc. Reduces Position in Eli Lilly and Company (NYSE:LLY)

Desjardins Global Asset Management Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,147 shares of the company’s stock after selling 1,765 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Eli Lilly and Company were worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $107,000. Roundview Capital LLC boosted its position in shares of Eli Lilly and Company by 2.6% in the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after acquiring an additional 53 shares during the period. Merit Financial Group LLC bought a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $210,000. NewEdge Advisors LLC boosted its position in shares of Eli Lilly and Company by 9.9% in the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after acquiring an additional 4,774 shares during the period. Finally, Barometer Capital Management Inc. bought a new position in shares of Eli Lilly and Company in the first quarter valued at approximately $561,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 54,032 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $645.07, for a total value of $34,854,422.24. Following the transaction, the insider now owns 99,488,598 shares in the company, valued at approximately $64,177,109,911.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.2 %

NYSE:LLY traded up $1.46 during trading hours on Tuesday, hitting $752.23. The company had a trading volume of 1,729,335 shares, compared to its average volume of 3,073,519. The company has a market capitalization of $714.74 billion, a PE ratio of 128.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.34. The stock has a 50-day moving average price of $762.68 and a 200 day moving average price of $655.54. Eli Lilly and Company has a 52 week low of $367.35 and a 52 week high of $800.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 12.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LLY shares. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Citigroup raised their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Barclays raised their target price on shares of 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, Bank of America raised their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $728.05.

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.