Wedge Capital Management L L P NC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Wedge Capital Management L L P NC reduced its position in Eli Lilly and Company (NYSE:LLY) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767 shares of the company’s stock after selling 26 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Eli Lilly and Company were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of LLY. Warren Street Wealth Advisors LLC boosted its position in shares of Eli Lilly and Company by 18.9% in the third quarter. Warren Street Wealth Advisors LLC now owns 835 shares of the company’s stock worth $449,000 after purchasing an additional 133 shares during the period. Olistico Wealth LLC boosted its position in shares of Eli Lilly and Company by 2.7% in the third quarter. Olistico Wealth LLC now owns 2,447 shares of the company’s stock worth $1,314,000 after purchasing an additional 65 shares during the period. Gemmer Asset Management LLC boosted its position in shares of Eli Lilly and Company by 78.0% during the third quarter. Gemmer Asset Management LLC now owns 1,340 shares of the company’s stock worth $720,000 after acquiring an additional 587 shares during the last quarter. Blue Fin Capital Inc. boosted its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Blue Fin Capital Inc. now owns 9,901 shares of the company’s stock worth $5,318,000 after acquiring an additional 86 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its position in shares of Eli Lilly and Company by 12.9% during the third quarter. Aaron Wealth Advisors LLC now owns 6,012 shares of the company’s stock worth $3,229,000 after acquiring an additional 685 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LLY. Citigroup upped their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays upped 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 report on Wednesday, February 7th. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $728.05.

Eli Lilly and Company Stock Up 1.2 %

NYSE:LLY opened at $733.51 on Friday. Eli Lilly and Company has a fifty-two week low of $380.77 and a fifty-two week high of $800.78. The stock has a market capitalization of $696.95 billion, a P/E ratio of 126.47, a P/E/G ratio of 1.58 and a beta of 0.34. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.94. The company’s 50-day simple moving average is $761.79 and its 200-day simple moving average is $666.06.

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, beating analysts’ consensus estimates 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 business had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period last year, the business earned $2.09 EPS. The company’s revenue was up 28.1% compared to the same quarter last year. On average, equities analysts anticipate that Eli Lilly and Company will post 12.51 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.