Resonant Capital Advisors LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Resonant Capital Advisors LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,612 shares of the company’s stock after selling 256 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $2,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Norges Bank bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $3,416,206,000. International Assets Investment Management LLC boosted its position in Eli Lilly and Company by 61,268.8% during the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Eli Lilly and Company by 102,752.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after acquiring an additional 5,440,731 shares during the last quarter. Morgan Stanley increased its position in shares of Eli Lilly and Company by 44.1% in the fourth quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock valued at $4,411,740,000 after acquiring an additional 3,691,436 shares during the period. Finally, Imprint Wealth LLC raised its stake in shares of Eli Lilly and Company by 53,716.8% during the second quarter. Imprint Wealth LLC now owns 1,751,200 shares of the company’s stock valued at $175,120,000 after acquiring an additional 1,747,946 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 2.6 %

Shares of NYSE:LLY traded down $19.03 during trading on Friday, reaching $726.92. The company’s stock had a trading volume of 2,552,640 shares, compared to its average volume of 3,059,926. The stock has a market capitalization of $690.69 billion, a PE ratio of 125.67, a price-to-earnings-growth ratio of 1.64 and a beta of 0.34. Eli Lilly and Company has a 12 month low of $369.76 and a 12 month high of $800.78. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm’s 50 day simple moving average is $764.24 and its two-hundred day simple moving average is $658.28.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.35 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the business earned $2.09 EPS. The business’s revenue was up 28.1% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LLY. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Wells Fargo & Company lifted their price objective on 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. The Goldman Sachs Group upped their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Bank of America raised their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, DZ Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $728.05.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 54,032 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $645.07, for a total transaction of $34,854,422.24. Following the transaction, the insider now owns 99,488,598 shares of the company’s stock, valued at $64,177,109,911.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by 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.