Cutter & CO Brokerage Inc. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Cutter & CO Brokerage Inc. reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,786 shares of the company’s stock after selling 120 shares during the period. Eli Lilly and Company makes up 1.1% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 18th biggest position. Cutter & CO Brokerage Inc.’s holdings in Eli Lilly and Company were worth $3,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $26,000. Thompson Investment Management Inc. purchased a new position in Eli Lilly and Company during the third quarter worth about $27,000. Legacy Financial Group LLC purchased a new position in Eli Lilly and Company during the third quarter worth about $35,000. Optiver Holding B.V. purchased a new position in Eli Lilly and Company during the third quarter worth about $36,000. Finally, Family CFO Inc purchased a new position in Eli Lilly and Company during the third quarter worth about $40,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LLY has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lifted their price target on shares of 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. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Morgan Stanley lifted their price target on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Trading Up 2.0 %

NYSE:LLY traded up $14.29 on Tuesday, reaching $745.62. The stock had a trading volume of 2,041,595 shares, compared to its average volume of 3,051,032. The company has a market cap of $708.46 billion, a price-to-earnings ratio of 127.57, a P/E/G ratio of 1.58 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73. The firm’s fifty day moving average is $763.83 and its two-hundred day moving average is $662.78. Eli Lilly and Company has a 12-month low of $370.68 and a 12-month high of $800.78.

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, beating analysts’ consensus estimates of $2.30 by $0.19. The company had revenue of $9.35 billion for the quarter, compared to analyst estimates of $8.95 billion. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Equities analysts expect that Eli Lilly and Company will post 12.52 EPS for the current fiscal year.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the transaction, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

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.