Provence Wealth Management Group Increases Stake in Eli Lilly and Company (NYSE:LLY)

Provence Wealth Management Group lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 17.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,801 shares of the company’s stock after acquiring an additional 415 shares during the period. Provence Wealth Management Group’s holdings in Eli Lilly and Company were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Buckhead Capital Management LLC lifted its stake in Eli Lilly and Company by 0.7% in the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after buying an additional 15 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares during the last quarter. JGP Wealth Management LLC lifted its stake in shares of Eli Lilly and Company by 0.9% in the fourth quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock worth $1,074,000 after buying an additional 16 shares in the last quarter. Patton Albertson Miller Group LLC grew its stake in Eli Lilly and Company by 2.8% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock valued at $335,000 after acquiring an additional 17 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in Eli Lilly and Company by 1.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock worth $688,000 after purchasing an additional 17 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 2.8 %

NYSE LLY traded down $20.94 during trading on Friday, reaching $734.97. 4,595,138 shares of the company’s stock were exchanged, compared to its average volume of 2,629,045. Eli Lilly and Company has a 1 year low of $419.80 and a 1 year high of $800.78. The stock has a market cap of $698.52 billion, a P/E ratio of 108.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.73 and a current ratio of 1.35. The company has a 50 day moving average price of $761.06 and a two-hundred day moving average price of $671.38.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts anticipate that Eli Lilly and Company will post 13.82 EPS for the current fiscal year.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Barclays lifted their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target (up previously from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday, April 30th. DZ Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price for the company. in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group upped their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. 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, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

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.