Delta Asset Management LLC TN Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Delta Asset Management LLC TN reduced its stake in Eli Lilly and Company (NYSE:LLY) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 654 shares of the company’s stock after selling 77 shares during the quarter. Delta Asset Management LLC TN’s holdings in Eli Lilly and Company were worth $505,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LLY. FWG Holdings LLC raised its position in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC raised its holdings in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock worth $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the period. Garner Asset Management Corp lifted its position in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the period. Finally, GSG Advisors LLC boosted its holdings in Eli Lilly and Company by 3.2% in the 4th quarter. GSG Advisors LLC now owns 425 shares of the company’s stock valued at $328,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.0 %

Eli Lilly and Company stock opened at $826.84 on Thursday. The stock has a 50-day moving average price of $841.16 and a 200 day moving average price of $837.54. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The stock has a market cap of $783.98 billion, a PE ratio of 70.61, a P/E/G ratio of 1.40 and a beta of 0.34. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LLY. Bank of America reissued a “buy” rating and set a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Berenberg Bank set a $970.00 price objective on Eli Lilly and Company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Morgan Stanley set a $1,146.00 price target on shares of Eli Lilly and Company in a report on Thursday, March 6th. Finally, Truist Financial boosted their price objective 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,009.72.

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.