Wellspring Financial Advisors LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Wellspring Financial Advisors LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 31.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531 shares of the company’s stock after selling 246 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Eli Lilly and Company were worth $410,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after buying an additional 475,530 shares during the period. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after buying an additional 291,875 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Norges Bank acquired a new position in Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. Finally, Fisher Asset Management LLC grew its position in shares of Eli Lilly and Company by 3.5% in the 4th quarter. Fisher Asset Management LLC now owns 5,236,108 shares of the company’s stock worth $4,042,276,000 after acquiring an additional 178,007 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 6.5 %

Shares of Eli Lilly and Company stock opened at $737.56 on Monday. Eli Lilly and Company has a 12-month low of $692.96 and a 12-month high of $972.53. The firm has a market capitalization of $699.33 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. 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 stock’s fifty day moving average is $848.36 and its 200-day moving average is $831.41.

Eli Lilly and Company (NYSE:LLY) last posted 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%. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company declared that its Board of Directors has authorized a stock repurchase program on Monday, December 9th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LLY shares. Morgan Stanley set a $1,146.00 price objective on shares of Eli Lilly and Company in a research report on Thursday, March 6th. Wells Fargo & Company raised their target price on Eli Lilly and Company from $970.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a research report on Thursday, January 16th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup lowered their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $1,009.72.

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.