Providence Wealth Advisors LLC Sells 290 Shares of Eli Lilly and Company (NYSE:LLY)

Providence Wealth Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 12,470 shares of the company’s stock after selling 290 shares during the quarter. Eli Lilly and Company comprises approximately 7.3% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Providence Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $9,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $826.84 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $841.16 and a 200 day simple moving average of $837.54. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The stock has a market capitalization of $783.98 billion, a PE ratio of 70.61, a P/E/G ratio of 1.40 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, February 6th. The company reported $5.32 earnings per share 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%. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company declared that its board has approved a share repurchase program on Monday, December 9th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on LLY. 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. Wells Fargo & Company boosted their price objective on shares of Eli Lilly and Company from $970.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Truist Financial increased their price target on 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. Bank of America reissued a “buy” rating and issued a $997.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research report on Thursday, January 16th. Three 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 company presently has a consensus rating of “Moderate Buy” and a consensus 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.