Canal Capital Management LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Canal Capital Management LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,725 shares of the company’s stock after purchasing an additional 32 shares during the period. Canal Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JGP Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 0.9% in the 4th quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock worth $1,074,000 after purchasing an additional 16 shares during the last quarter. Cassia Capital Partners LLC lifted its holdings in Eli Lilly and Company by 1.8% during the third quarter. Cassia Capital Partners LLC now owns 951 shares of the company’s stock worth $511,000 after acquiring an additional 17 shares in the last quarter. Walkner Condon Financial Advisors LLC lifted its holdings in Eli Lilly and Company by 2.8% during the third quarter. Walkner Condon Financial Advisors LLC now owns 621 shares of the company’s stock worth $334,000 after acquiring an additional 17 shares in the last quarter. Patton Albertson Miller Group LLC lifted its holdings in Eli Lilly and Company by 2.8% during the third quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock worth $335,000 after acquiring an additional 17 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its holdings in Eli Lilly and Company by 1.3% during the third quarter. Valley Wealth Managers Inc. now owns 1,280 shares of the company’s stock worth $688,000 after acquiring an additional 17 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup lifted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $815.00 target price on shares of Eli Lilly and Company in a report on Monday, April 1st. Truist Financial restated a “buy” rating and issued a $850.00 price target on shares of Eli Lilly and Company in a report on Friday, March 22nd. 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. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $700.00.

Eli Lilly and Company Trading Up 2.1 %

Shares of LLY stock opened at $784.21 on Friday. The stock has a market capitalization of $745.12 billion, a price-to-earnings ratio of 135.21, a PEG ratio of 1.72 and a beta of 0.34. Eli Lilly and Company has a 1 year low of $363.04 and a 1 year high of $800.78. The company’s fifty day simple moving average is $750.88 and its two-hundred day simple moving average is $646.11. 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 released its quarterly earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The firm had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 12.42 earnings per share for the current year.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 34,538 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $631.81, for a total transaction of $21,821,453.78. Following the completion of the sale, the insider now directly owns 99,719,884 shares in the company, valued at $63,004,019,910.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 180,667 shares of company stock worth $116,186,189. Corporate insiders own 0.13% of the company’s stock.

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.