Carmichael Hill & Associates Inc. Sells 50 Shares of Eli Lilly and Company (NYSE:LLY)

Carmichael Hill & Associates Inc. cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,977 shares of the company’s stock after selling 50 shares during the period. Carmichael Hill & Associates Inc.’s holdings in Eli Lilly and Company were worth $1,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Vanguard Group Inc. grew its position in 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. State Street Corp grew its position in Eli Lilly and Company by 1.9% in the second quarter. State Street Corp now owns 33,878,417 shares of the company’s stock valued at $15,888,300,000 after acquiring an additional 642,274 shares during the period. Morgan Stanley grew its position in Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares during the period. Northern Trust Corp grew its position in Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after acquiring an additional 355,317 shares during the period. Finally, Norges Bank bought a new stake in Eli Lilly and Company in the fourth quarter valued at $3,416,206,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 12,344 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $634.13, for a total transaction of $7,827,700.72. Following the completion of the transaction, the insider now directly owns 99,543,810 shares in the company, valued at $63,123,716,235.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 180,667 shares of company stock worth $116,186,189. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $815.00 price target on shares of Eli Lilly and Company in a research report on Monday. Barclays increased their target price on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. increased their target price 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. 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. Finally, Citigroup upped their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $700.00.

Eli Lilly and Company Stock Down 1.0 %

Shares of Eli Lilly and Company stock opened at $768.20 on Friday. Eli Lilly and Company has a 1 year low of $357.93 and a 1 year high of $800.78. The business has a 50-day moving average of $747.98 and a two-hundred day moving average of $644.13. The company has a market capitalization of $729.92 billion, a P/E ratio of 132.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. The company had revenue of $9.35 billion during 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 company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 12.42 EPS for the current year.

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.