Eli Lilly and Company (NYSE:LLY) Shares Sold by Darden Wealth Group Inc

Darden Wealth Group Inc lowered its stake in Eli Lilly and Company (NYSE:LLY) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,455 shares of the company’s stock after selling 60 shares during the quarter. Darden Wealth Group Inc’s holdings in Eli Lilly and Company were worth $1,123,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 80.0% during the fourth 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 period. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth $48,000. Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter worth $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in Eli Lilly and Company in the 4th quarter valued at about $58,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price target 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. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Berenberg Bank set a $970.00 price objective on shares of Eli Lilly and Company in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 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 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 Trading Down 6.5 %

Shares of NYSE:LLY opened at $737.56 on Friday. Eli Lilly and Company has a fifty-two week low of $711.40 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market cap of $699.33 billion, a PE ratio of 62.99, a P/E/G ratio of 1.40 and a beta of 0.34. The company’s 50-day moving average price is $848.36 and its 200 day moving average price is $831.93.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 year.

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

About Eli Lilly and Company

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.