TD Private Client Wealth LLC Trims Position in Eli Lilly and Company (NYSE:LLY)

TD Private Client Wealth LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 56.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,438 shares of the company’s stock after selling 7,105 shares during the quarter. TD Private Client Wealth LLC’s holdings in Eli Lilly and Company were worth $4,198,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its holdings in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after buying an additional 20 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after purchasing an additional 24,879 shares in the last quarter. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $50,000. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LLY shares. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, December 10th. StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Morgan Stanley set a $1,146.00 price objective on Eli Lilly and Company in a report on Thursday, March 6th. Citigroup cut their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,009.72.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $839.44 on Friday. The stock has a fifty day moving average of $835.99 and a 200 day moving average of $839.87. Eli Lilly and Company has a 52 week low of $711.40 and a 52 week high of $972.53. The firm has a market capitalization of $795.93 billion, a price-to-earnings ratio of 71.69, a PEG ratio of 1.40 and a beta of 0.34. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last announced 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%. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company announced that its board has approved a stock repurchase program on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.