Truist Financial Corp Has $158.57 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Truist Financial Corp decreased its stake in Eli Lilly and Company (NYSE:LLY) by 11.6% in the fourth quarter, HoldingsChannel reports. The firm owned 272,033 shares of the company’s stock after selling 35,553 shares during the period. Truist Financial Corp’s holdings in Eli Lilly and Company were worth $158,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lipe & Dalton acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $26,000. Thompson Investment Management Inc. bought a new stake in Eli Lilly and Company in the third quarter worth approximately $27,000. Legacy Financial Group LLC bought a new stake in Eli Lilly and Company in the third quarter worth approximately $35,000. Optiver Holding B.V. bought a new stake in Eli Lilly and Company in the third quarter worth approximately $36,000. Finally, Family CFO Inc bought a new stake in Eli Lilly and Company in the third quarter worth approximately $40,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on LLY shares. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Barclays upped their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $815.00 price objective on shares of Eli Lilly and Company in a report on Monday, April 15th. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Truist Financial reissued a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Eli Lilly and Company Price Performance

LLY traded up $8.64 during midday trading on Friday, hitting $733.51. The company had a trading volume of 2,009,249 shares, compared to its average volume of 2,265,427. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The company has a market capitalization of $696.95 billion, a PE ratio of 126.47, a P/E/G ratio of 1.58 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $380.77 and a twelve month high of $800.78. The firm’s 50-day simple moving average is $761.79 and its 200-day simple moving average is $666.06.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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. The firm had revenue of $9.35 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 EPS. Equities research analysts predict that Eli Lilly and Company will post 12.51 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the firm’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 of the company’s stock, valued at approximately $64,177,109,911.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.