Hoey Investments Inc. Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Hoey Investments Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 68.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105 shares of the company’s stock after selling 228 shares during the quarter. Hoey Investments Inc.’s holdings in Eli Lilly and Company were worth $81,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after purchasing an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the period. FPC Investment Advisory Inc. grew its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $48,000. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company during the 4th quarter worth about $50,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Truist Financial raised their price target on shares of 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. Citigroup cut their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Eli Lilly and Company Trading Down 0.2 %

NYSE:LLY opened at $820.30 on Monday. The company has a market capitalization of $777.78 billion, a PE ratio of 70.05, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $711.40 and a 52-week high of $972.53. The stock’s 50 day moving average price is $844.31 and its 200 day moving average price is $835.77. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

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

Eli Lilly and Company announced that its board has authorized a share repurchase program on Monday, December 9th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.