Hillsdale Investment Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Hillsdale Investment Management Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 902 shares of the company’s stock after selling 260 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Eli Lilly and Company were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Forefront Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $293,000. American Century Companies Inc. boosted its stake in shares of Eli Lilly and Company by 1.8% during the 4th quarter. American Century Companies Inc. now owns 2,304,938 shares of the company’s stock valued at $1,779,412,000 after buying an additional 41,195 shares during the last quarter. Plancorp LLC boosted its stake in shares of Eli Lilly and Company by 1.0% during the 4th quarter. Plancorp LLC now owns 12,586 shares of the company’s stock valued at $9,716,000 after buying an additional 129 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $506,000. Finally, Cyrus J. Lawrence LLC boosted its stake in shares of Eli Lilly and Company by 8.7% during the 4th quarter. Cyrus J. Lawrence LLC now owns 23,521 shares of the company’s stock valued at $18,158,000 after buying an additional 1,889 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley set a $1,146.00 target price on Eli Lilly and Company in a research note on Thursday, March 6th. Bank of America reissued a “buy” rating and set a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,009.72.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $839.44 on Monday. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s fifty day moving average price is $835.99 and its two-hundred day moving average price is $838.30. The firm has a market capitalization of $795.93 billion, a PE ratio of 71.69, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company declared that its Board of Directors has approved a share repurchase plan on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.