Howe & Rusling Inc. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Howe & Rusling Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 8.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 371 shares of the company’s stock after selling 35 shares during the quarter. Howe & Rusling Inc.’s holdings in Eli Lilly and Company were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its position 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 worth $35,000 after acquiring an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in Eli Lilly and Company by 117.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares during the last quarter. FPC Investment Advisory Inc. grew its position 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 worth $45,000 after purchasing an additional 43 shares during the last quarter. Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the fourth quarter valued at $50,000. Finally, Fiduciary Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Bank of America restated a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Truist Financial increased their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.72.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $822.14 on Friday. The firm has a market capitalization of $779.52 billion, a PE ratio of 70.21, a P/E/G ratio of 1.40 and a beta of 0.34. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm’s 50-day simple moving average is $842.43 and its 200 day simple moving average is $837.43. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 net margin of 23.51% and a return on equity of 85.24%. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

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

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.