Cary Street Partners Investment Advisory LLC Sells 17,414 Shares of Eli Lilly and Company (NYSE:LLY)

Cary Street Partners Investment Advisory LLC decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 66.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,615 shares of the company’s stock after selling 17,414 shares during the period. Eli Lilly and Company accounts for about 1.5% of Cary Street Partners Investment Advisory LLC’s investment portfolio, making the stock its 12th biggest holding. Cary Street Partners Investment Advisory LLC’s holdings in Eli Lilly and Company were worth $5,022,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Sapient Capital LLC purchased a new position in Eli Lilly and Company in the 4th quarter valued at approximately $617,312,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 3rd quarter worth about $435,736,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Eli Lilly and Company by 24.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock valued at $1,778,362,000 after purchasing an additional 645,473 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 78,573 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $648.07, for a total transaction of $50,920,804.11. Following the completion of the sale, the insider now owns 99,333,810 shares in the company, valued at $64,375,262,246.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 5.9 %

NYSE:LLY traded up $43.32 during midday trading on Tuesday, hitting $780.52. The stock had a trading volume of 5,030,844 shares, compared to its average volume of 3,040,354. The stock has a 50-day moving average of $760.89 and a 200 day moving average of $668.00. The company has a market capitalization of $741.62 billion, a price-to-earnings ratio of 134.72, a PEG ratio of 1.60 and a beta of 0.34. Eli Lilly and Company has a one year low of $392.26 and a one year 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 posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.19. The business had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.95 billion. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. As a group, sell-side analysts forecast that Eli Lilly and Company will post 12.51 EPS for the current year.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Barclays boosted their price objective on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $728.05.

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.