Lorne Steinberg Wealth Management Inc. Sells 187 Shares of Eli Lilly and Company (NYSE:LLY)

Lorne Steinberg Wealth Management Inc. reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 415 shares of the company’s stock after selling 187 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $242,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Simon Quick Advisors LLC increased its holdings in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $363,000. WASHINGTON TRUST Co grew its stake in Eli Lilly and Company by 16.5% in the fourth quarter. WASHINGTON TRUST Co now owns 18,892 shares of the company’s stock valued at $11,013,000 after acquiring an additional 2,671 shares during the period. Liontrust Investment Partners LLP acquired a new stake in Eli Lilly and Company in the third quarter valued at approximately $8,326,000. Finally, Assenagon Asset Management S.A. grew its stake in Eli Lilly and Company by 4.0% in the third quarter. Assenagon Asset Management S.A. now owns 474,940 shares of the company’s stock valued at $255,105,000 after acquiring an additional 18,079 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $13.94 during mid-day trading on Wednesday, reaching $731.75. 1,046,031 shares of the company’s stock were exchanged, compared to its average volume of 3,025,277. The business’s fifty day simple moving average is $763.89 and its 200 day simple moving average is $664.05. The firm has a market capitalization of $695.28 billion, a PE ratio of 126.53, a P/E/G ratio of 1.59 and a beta of 0.34. Eli Lilly and Company has a one year low of $370.68 and a one year high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.19. The firm had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. On average, sell-side analysts expect that Eli Lilly and Company will post 12.52 earnings per share for the current year.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 54,032 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $645.07, for a total value of $34,854,422.24. Following the sale, the insider now directly owns 99,488,598 shares in the company, valued at $64,177,109,911.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their price objective on 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. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. The Goldman Sachs Group raised their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Barclays lifted their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Profile

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.