Sierra Summit Advisors LLC Has $8.38 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Sierra Summit Advisors LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,856 shares of the company's stock after purchasing an additional 1,767 shares during the quarter. Eli Lilly and Company accounts for 1.7% of Sierra Summit Advisors LLC's portfolio, making the stock its 27th largest position. Sierra Summit Advisors LLC's holdings in Eli Lilly and Company were worth $8,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LLY. FWG Holdings LLC increased its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after buying an additional 12 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after buying an additional 12 shares during the last quarter. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the last quarter. Finally, GSG Advisors LLC boosted its stake in Eli Lilly and Company by 3.2% in the fourth quarter. GSG Advisors LLC now owns 425 shares of the company's stock valued at $328,000 after acquiring an additional 13 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $892.00 to $888.00 in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of Eli Lilly and Company from $1,146.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,017.67.

Eli Lilly and Company Stock Down 5.6 %

Shares of Eli Lilly and Company stock traded down $41.93 during trading on Thursday, hitting $711.78. 1,981,679 shares of the stock traded hands, compared to its average volume of 3,360,258. The company has a fifty day moving average price of $840.79 and a two-hundred day moving average price of $826.23. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a market cap of $674.89 billion, a P/E ratio of 60.82, a PEG ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released 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 net margin of 23.51% and a return on equity of 85.24%. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Insider Activity

In other Eli Lilly and Company 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 sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This 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 available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.