BancFirst Trust & Investment Management Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

BancFirst Trust & Investment Management decreased its stake in Eli Lilly and Company (NYSE:LLY) by 44.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 432 shares of the company’s stock after selling 339 shares during the quarter. BancFirst Trust & Investment Management’s holdings in Eli Lilly and Company were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Planning LLC purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Eli Lilly and Company in the first quarter worth about $6,916,000. M&G Plc purchased a new position in Eli Lilly and Company during the 1st quarter valued at about $8,896,000. HighPoint Advisor Group LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at approximately $9,878,000. Finally, Leo Wealth LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $3,355,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 52,369 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $915.18, for a total transaction of $47,927,061.42. Following the completion of the sale, the insider now owns 97,247,403 shares of the company’s stock, valued at approximately $88,998,878,277.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 355,962 shares of company stock valued at $331,267,535. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

Shares of Eli Lilly and Company stock opened at $891.01 on Thursday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $897.24 and its 200 day moving average is $846.22. The company has a market cap of $846.82 billion, a price-to-earnings ratio of 131.22, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current year.

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.