Strong Tower Advisory Services Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Strong Tower Advisory Services lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,400 shares of the company’s stock after selling 28 shares during the quarter. Eli Lilly and Company comprises approximately 2.4% of Strong Tower Advisory Services’ portfolio, making the stock its 14th biggest holding. Strong Tower Advisory Services’ holdings in Eli Lilly and Company were worth $5,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LLY. Fairfield Bush & CO. bought a new position in Eli Lilly and Company in the 1st quarter worth about $107,000. Roundview Capital LLC increased its holdings in Eli Lilly and Company by 2.6% during the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock worth $589,000 after acquiring an additional 53 shares during the period. Merit Financial Group LLC purchased a new stake in Eli Lilly and Company in the 1st quarter worth approximately $210,000. NewEdge Advisors LLC boosted its holdings in Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after purchasing an additional 4,774 shares during the period. Finally, Barometer Capital Management Inc. purchased a new position in shares of Eli Lilly and Company during the 1st quarter valued at $561,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $777.96 on Friday. The stock’s 50 day moving average is $730.97 and its 200 day moving average is $637.01. The company has a market capitalization of $739.19 billion, a P/E ratio of 134.13, a PEG ratio of 1.71 and a beta of 0.34. Eli Lilly and Company has a twelve month low of $334.58 and a twelve month high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The firm had revenue of $9.35 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. On average, equities research analysts predict that Eli Lilly and Company will post 12.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 34,538 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the sale, the insider now directly owns 99,719,884 shares of the company’s stock, valued at $63,004,019,910.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 195,055 shares of company stock worth $125,254,657 in the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Barclays increased their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $775.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Morgan Stanley lifted their target price on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $850.00 price target on shares of Eli Lilly and Company in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $689.52.

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.