Sagespring Wealth Partners LLC Acquires Shares of 8,800 Eli Lilly and Company (NYSE:LLY)

Sagespring Wealth Partners LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,800 shares of the company's stock, valued at approximately $6,794,000.

A number of other institutional investors also recently modified their holdings of LLY. Townsquare Capital LLC raised its holdings in Eli Lilly and Company by 97.1% during the 4th quarter. Townsquare Capital LLC now owns 56,235 shares of the company's stock valued at $43,415,000 after acquiring an additional 27,705 shares during the period. Manhattan West Asset Management LLC raised its stake in shares of Eli Lilly and Company by 5.6% during the 4th quarter. Manhattan West Asset Management LLC now owns 1,704 shares of the company's stock valued at $1,315,000 after purchasing an additional 91 shares during the period. Fortis Capital Advisors LLC raised its stake in shares of Eli Lilly and Company by 6.4% during the 4th quarter. Fortis Capital Advisors LLC now owns 1,947 shares of the company's stock valued at $1,503,000 after purchasing an additional 117 shares during the period. Petros Family Wealth LLC purchased a new stake in Eli Lilly and Company during the 4th quarter worth about $240,000. Finally, Sterling Capital Management LLC grew its holdings in Eli Lilly and Company by 2.5% during the 4th quarter. Sterling Capital Management LLC now owns 46,267 shares of the company's stock valued at $35,718,000 after buying an additional 1,123 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 2.9 %

Shares of NYSE LLY traded down $22.33 during midday trading on Wednesday, reaching $734.85. The company had a trading volume of 3,301,946 shares, compared to its average volume of 3,713,127. The stock has a market cap of $696.76 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The firm's fifty day moving average price is $832.96 and its 200-day moving average price is $821.54. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

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Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price target 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. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Guggenheim reduced their target price on Eli Lilly and Company from $973.00 to $928.00 and set a "buy" rating for the company in a research report on Monday. Finally, Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.00.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company's stock.

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.