Smith Moore & CO. Has $5.79 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Smith Moore & CO. lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,503 shares of the company's stock after selling 784 shares during the period. Smith Moore & CO.'s holdings in Eli Lilly and Company were worth $5,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC raised its stake in shares of 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 in the last quarter. FPC Investment Advisory Inc. increased its holdings in 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 during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $50,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $1,146.00 price target on Eli Lilly and Company in a research report on Thursday, March 6th. Truist Financial raised their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of 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. Leerink Partners set a $950.00 price objective on shares of Eli Lilly and Company in a research note on Friday, January 17th. Finally, StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,009.72.

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Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $51.53 during midday trading on Friday, reaching $737.56. 5,289,016 shares of the company traded hands, compared to its average volume of 3,326,912. The stock has a 50-day moving average price of $848.36 and a 200 day moving average price of $831.93. The company has a market cap of $699.33 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share 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%. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company declared that its board has initiated a stock buyback program on Monday, December 9th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.