Norden Group LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Norden Group LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,682 shares of the company’s stock after selling 35 shares during the period. Norden Group LLC’s holdings in Eli Lilly and Company were worth $980,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LLY. Penobscot Investment Management Company Inc. grew its holdings in shares of Eli Lilly and Company by 9.5% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 6,380 shares of the company’s stock worth $3,719,000 after purchasing an additional 552 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Eli Lilly and Company by 1.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 8,904 shares of the company’s stock worth $5,190,000 after buying an additional 90 shares during the last quarter. Field & Main Bank raised its position in shares of Eli Lilly and Company by 9.5% during the 4th quarter. Field & Main Bank now owns 7,722 shares of the company’s stock valued at $4,501,000 after buying an additional 668 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in Eli Lilly and Company by 3.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,472 shares of the company’s stock worth $17,180,000 after acquiring an additional 908 shares in the last quarter. Finally, Ledyard National Bank increased its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Ledyard National Bank now owns 3,998 shares of the company’s stock valued at $2,331,000 after acquiring an additional 22 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of Eli Lilly and Company stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total value of $50,920,804.11. Following the completion of the transaction, the insider now owns 99,333,810 shares of the company’s stock, valued at approximately $64,375,262,246.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Stock Up 6.0 %

Shares of NYSE LLY traded up $44.10 during mid-day trading on Tuesday, hitting $781.30. 5,419,168 shares of the stock traded hands, compared to its average volume of 3,044,902. The company has a market cap of $742.36 billion, a price-to-earnings ratio of 134.43, a PEG ratio of 1.60 and a beta of 0.34. The stock has a fifty day moving average price of $760.89 and a 200-day moving average price of $668.00. Eli Lilly and Company has a 52 week low of $392.26 and a 52 week high of $800.78. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the firm earned $2.09 EPS. The company’s revenue was up 28.1% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 12.51 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on LLY shares. Bank of America increased their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday. Citigroup upped their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $731.55.

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.